Hong Kong just handed its first stablecoin licences to the same banks that print its banknotes. The HKMA chose HSBC and Standard Chartered's Anchorpoint venture from 36 applicants — a deliberate bet that trusted institutions make the safest foundation for digital money.
The data suggests that stablecoins are evolving into practical financial tools rather than speculative assets. Respondents reported using stablecoins to get paid, make purchases, and transfer money internationally, particularly in cases where traditional financial systems are perceived as slow, costly, or unreliable.
The investment was made through PayPal Ventures, the company’s venture capital arm, as part of Stable’s recent $28 million seed round that also included backing from Bitfinex and Hack VC.
Stablecoins have quietly become a financial powerhouse, moving over $27 trillion in 2024—surpassing Visa and Mastercard combined. From cross-border payments to DeFi, this guest piece by Vedang Vatsa explores how digital dollars are reshaping the global economy. Published by Crypto India Magazine.
Mudrex CEO Edul Patel explains why stablecoins could be India’s next big fintech leap, how regulation is key, and why the global shift is already underway.
