Stablecoin

Bank AI

Coin

<ul class="news-points"> 
 <li>ZA Bank in Hong Kong is discussing establishing cash reserve accounts with potential stablecoin issuers.</li> 
 <li>A ZA Bank executive disclosed engaging with about eight prospective corporate clients exploring stablecoins.</li> 
 <li>The HKMA has initiated accepting applications for trials concerning stablecoin issuance.</li> 
</ul> 
ZA Bank in Hong Kong is currently in discussions with potential stablecoin issuers regarding establishing accounts for the cash reserves supporting these tokens. Details of this development were <a href="https://www.bnnbloomberg.ca/za-bank-looks-to-offer-hong-kong-accounts-for-stablecoin-issuers-1.2055452" target="_blank" rel="nofollow">captured</a> by Bloomberg, citing Devon Sin, General Manager of Business Banking &amp; Lending at ZA Bank. 
Devon Sin revealed that the digital bank is engaging with approximately five to eight prospective corporate clients, both existing and new, who are exploring the possibility of launching stablecoins. Upon official admission to <a href="https://coinedition.com/hong-kong-stablecoin-sandbox-heats-up-with-a-major-chinese-player-on-board/">a regulatory sandbox by the Hong Kong Monetary Authority (HKMA)</a>, these clients will be provided with fiat reserve accounts. 
During an interview, Sin highlighted the diverse applications of stablecoins, ranging from wholesale and retail markets to tokenization and overseas remittance solutions. “We are keen to explore how to put them into real-wor…
The post <a href="https://coinedition.com/za-bank-explores-providing-hong-kong-accounts-for-stablecoin-issuers/">ZA Bank Explores Providing Hong Kong Accounts for Stablecoin Issuers</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

ZA Bank Explores Providing Hong Kong Accounts for Stablecoin Issuers

Coin Edition

Other articles published on Apr 6, 2024

BlockDAG Facilitates Finance Industry with a Special Payment Card Integration: Insights into SNX ...

Here's How Much XRP, SHIB and DOGE Binance Currently Holds

BlockDAG’s Whitepaper Release Increases ROI Potential to 30,000x as Solana Market Cap Sees Rise &...

Transform Your Wealth Overnight with This Single Low-Cost Coin Experts Say Could Skyrocket!

What Are Crypto Binary Options? Top 5 Platforms

Pendle Finance Could Be the Next Big Leap in DeFi’s Evolution

Join our free newsletter for daily crypto updates!