Search results for Hong Kong Monetary Authority
Crypto
Circle steps up push in South Korea, fuelling hopes for won-backed stablecoin
Circle CEO Jeremy Allaire (제레미 알레어) visited South Korea and met major financial groups and crypto exchanges, lifting expectations for won-backed stablecoins and related infrastructure cooperation. Shares linked to stablecoins rose sharply on April 14. Analysts said stablecoins connect broadly to payments, authentication, settlement, wallets and trading infrastructure, and that Circle may pursue cooperation on expanding USDC distribution and building infrastructure including CCTP.
Crypto
Hong Kong stablecoin licence issuance delayed as review continues
Hong Kong’s financial regulator had signalled it would issue its first stablecoin licence in the first quarter, but no applicant has been approved as of April. The Hong Kong Monetary Authority said it is continuing to process and review applications and will announce any progress, without giving a timetable. It has asked applicants to strengthen disclosures on reserve assets, anti-money laundering controls, redemption mechanisms and responses under extreme stress.
Crypto
Hong Kong, Shanghai begin blockchain test for trade data
Hong Kong and Shanghai have begun working together to use blockchain technology to simplify trade finance and cargo document processing, Cointelegraph reported on Tuesday. The Hong Kong Monetary Authority, Shanghai Data Bureau and the National Technical Innovation Center for Blockchain signed a memorandum of understanding on trade digitalisation. The cooperation, part of Project Ensemble launched in 2024, focuses on studying a blockchain-based platform linking trade data, electronic bills of lading and financial applications.
