Standard Chartered is studying stablecoin-related documents and aims to submit an application as soon as possible

According to a PANews report on August 1st, RTHK's Financial News report states that Standard Chartered Bank's Chief Executive Officer for Hong Kong and Greater China and North Asia, Ms. Huen Wai-yee, stated that the group is currently reviewing the newly released stablecoin documents from the HKMA and aims to submit an application as soon as the Stablecoin Ordinance takes effect. She noted that a consortium formed by Standard Chartered and its partners has participated in the stablecoin issuer "sandbox" and is focused on exploring opportunities in the Hong Kong dollar market. Ms. Huen believes that the new regulatory framework will help balance risks and is open to commercial solutions. She also believes that digital assets will play a significant role in the future financial system.