Hong Kong Grants First Stablecoin Licenses to HSBC and Anchorpoint
Hong Kong’s first stablecoin approvals went to HSBC and Anchorpoint, a venture involving Standard Chartered, Animoca and HKT, with one license targeting retail users.
Summary
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Terms & Concepts
Stablecoin: A cryptocurrency designed to maintain a stable value, often by tracking fiat currencies such as the U.S. dollar.
TradFi: Traditional finance, referring to established financial institutions such as banks, brokers and payment companies.
Retail users: Individual consumers or small investors, as opposed to institutions or professional market participants.