HSBC

The Hong Kong Monetary Authority has granted HSBC and Standard Chartered Group the first licenses under the territory’s Stablecoins Ordinance, which took effect in August 2025. The approvals mark a regulatory milestone that could accelerate bank-led stablecoin activity in the region.

Tether has dismissed two senior precious metals traders it recruited from HSBC just months earlier, reflecting a quick reversal in its push into traditional metals trading. The move raises questions about Tether's non‑crypto expansion and reserve diversification plans.

HSBC has joined the Canton Network as a validator, strengthening its tokenized-asset strategy and expanding blockchain access to roughly 40 million clients globally.

Hong Kong has published its first list of applicants shortlisted for stablecoin licences, with HSBC, Anchorpoint (a Standard Chartered–backed JV) and OSL Group reportedly among the three names. The move signals regulatory progress toward licensed onshore stablecoin issuance.

The UK Treasury has selected HSBC's blockchain platform to run a pilot for digital gilts. The program will test tokenized government debt issuance, settlement and custody on an institutional ledger.

On Jan. 27 HSBC told clients to adopt an aggressive risk-on posture — overweight equities, high-yield, emerging-market debt and gold, underweight government bonds, investment-grade credit and oil — and flagged a weak dollar as a catalyst that could lift Bitcoin (BTC).

HSBC says legislative momentum for a US crypto market bill remains strong despite opposition from Coinbase, as industry leaders prefer clear rules to enforcement uncertainty. The bank views broader market support and demand for regulatory certainty as key drivers keeping the bill on track.