Stablecoin – Charm

Fosun drives up interest for Hong Kong stock performance-linked tokens on blockchains

Cs news3 months ago02 mins

A subsidiary of Fosun International this week marked a new milestone in bringing traditional financial instruments onto a blockchain infrastructure, which it touted as Asia’s first “comprehensive” technical solution for stock performance-linked tokens. Fosun Wealth Holdings-backed start-up Finloop Finance Technology Holding collaborated with FinChain, a Web3 brand under Fosun Wealth, in creating the new solution…

77 firms apply to issue stablecoins in Hong Kong. BOCHK included – report – Ledger Insights

Cs news3 months ago02 mins

Hong Kong opened applications for stablecoin issuers at the start of August, with 77 firms applying during the month. The Hong Kong Monetary Authority (HKMA) has repeatedly stated it only plans to license a handful of companies in the first instance. With its initial rules requiring the identity of every stablecoin user, this may favor…

Exclusive | Bitcoin Asia kicks off as Hong Kong aims to balance crypto hub goal with risk mitigation

Cs news3 months ago02 mins

Bitcoin Asia kicked off in Hong Kong on Thursday, as Hong Kong strives to balance its goal of becoming a crypto hub while pushing forward a regulatory regime to mitigate financial risks. In its second edition, the conference featured experts who said that Hong Kong could become a hub for shaping the global digital asset…

Who can become the technological foundation for China’s stablecoin? Four major “national-level” public chains compete on the same stage

Cs news4 months ago019 mins

Author: Frank, PANews Stablecoins are becoming a strategic new track for major global economies, with the United States, the European Union, Hong Kong, and others competing to introduce regulatory frameworks in an effort to seize the initiative. However, the issuance of any stablecoin relies on a key underlying infrastructure—public chains. Against this backdrop, the industry…

HKMA’s strict stablecoin regime to shape Hong Kong’s crypto future

Cs news4 months ago03 mins

Hong Kong’s stablecoins ordinance, which took effect on Friday, puts cryptocurrency’s most-traded cash substitute under the same regulatory framework as banks, triggering a rush for a limited number of licences from the Hong Kong Monetary Authority (HKMA). Some market observers were caught by surprise after learning that the first batch of stablecoin licences was only…

Hong Kong set to issue first stablecoin licences ‘early next year’

Cs news4 months ago02 mins

The Hong Kong Monetary Authority (HKMA) is likely to issue the first batch of stablecoin licences early next year, as the city’s de-facto central bank urged potential issuers to submit their applications by the end of September. Ahead of the stablecoin ordinance taking effect on August 1, the HKMA unveiled on Tuesday licensing procedures and…

Exclusive | Global financial system must rewrite its rules for the tokenised future, says BIS adviser

Cs news4 months ago03 mins

The worldwide financial system needs to rewrite its rules for a future of tokens, as the rise of stablecoins poses new challenges to the global infrastructure for instant payment, clearing and settlement, according to the gatekeeper of the world’s central banks. Stablecoins, which are digital tokens backed by fiat currencies or other reserve assets, could…

China Merchants Bank’s brokerage arm receives virtual asset licence in Hong Kong

Cs news5 months ago03 mins

CMB International Securities (CMBI), the brokerage arm of China Merchants Bank, said it received a virtual asset licence from Hong Kong’s Securities and Futures Commission, making it the first mainland broker to conduct cryptocurrency trading services and other activities in the city. The licence, issued on Monday, allowed CMBI to engage in a variety of…

Geopolitics spur Hong Kong’s renewed focus on South Korean trade collaboration

Cs news5 months ago03 mins

Hong Kong’s finance chief has launched a strategic offensive to forge closer business ties with South Korea, with investors showing interest in the city’s latest cryptocurrency policy and its role as a “superconnector” to international markets amid geopolitical tensions. Concluding a three-day visit to Seoul on Thursday, Financial Secretary Paul Chan Mo-po proposed a direct…

J.P.Morgan wary of stablecoin’s trillion-dollar growth bets, cuts them by half

Cs news5 months ago03 mins

By Rashika Singh (Reuters) -J.P.Morgan on Thursday forecast stablecoin growth will only reach $500 billion by 2028, calling trillion-dollar projections “far too optimistic”, as there was little evidence of mainstream adoption of the dollar-pegged cryptocurrency token. Stablecoins have moved beyond their crypto trading roots to attract interest from fintechs and banks aiming to speed up…