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Meanwhile, overall flexibility is obtainable – the HKMA does not “presently see a necessity” either to introduce a individual licensing regime for custody of reserve assets, or to incorporate custodians into the proposed framework. Stablecoins have appreciably lower transaction expenditures when compared to classic fiat currencies, allowing

Stablecoins Engage in a crucial purpose in boosting market place liquidity by providing a responsible and efficient indicates of exchanging property. 6 Dobler et al., “E-income: Prudential Supervision, Oversight, and person Protection,” December 2021. Stablecoins issued by business banking companies should be issue to modified bank regulation.