HSBC plans to offer a stablecoin denominated in currencies other than Hong Kong dollars

HSBC Global Custody Products General Manager Gu Zhongyi stated that the plan considers offering non-HKD denominated stablecoins, which are expected to optimize cross-border transfer services in Hong Kong and other regions once implemented; at the same time, HSBC is also considering integrating other regulated stablecoins in Hong Kong.

Gu Zhongyi added that HSBC plans to launch HKD stablecoins as early as the second half of the year. The issued stablecoins will be integrated into the investment and payment processes within its own app, supporting investment in tokenized assets.