HSBC Launches Its First Stablecoin for Over 3 Million App Users

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HSBC has begun offering its first stablecoin to more than 3 million users of its everyday banking app. The rollout follows Hong Kong's issuance of its first stablecoin issuer licenses in April, which went to a group led by HSBC and Standard Chartered called Anchorpoint. Anchorpoint started distributing its Hong Kong dollar stablecoin, HKDAP, in August. The launch marks a step toward mainstream access to digital currencies for everyday consumers in the region.

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