Bank of China’s Hong Kong-listed shares jumped 6.7% on Monday to close at HKD 37.580, after local reports suggested the lender’s city unit is preparing to apply for a stablecoin issuer license. The move comes just weeks after Hong Kong rolled out one of the world’s first dedicated licensing frameworks for fiat-referenced stablecoins on August 1.
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Bank of China Shares Surge 6.7% on Stablecoin License Buzz
Bank of China’s Hong Kong-listed shares jumped 6.7% on Monday to close at HKD 37.580, after local reports suggested the lender’s city unit is preparing to apply for a stablecoin issuer license. The move comes just weeks after Hong Kong rolled out one of the world’s first dedicated licensing frameworks for fiat-referenced stablecoins on August 1.