BOC Hong Kong Shares Soar Amid Stablecoin License Rumors

BOC Hong Kong’s stock has skyrocketed over 8%, reaching a new record high of 38.2 HKD, exceeding its market capitalization to reach over 400 billion HKD. Reports in Hong Kong media indicate that the company is poised to be among the first to receive approval for a stablecoin issuer license after a consortium led by Standard Chartered Hong Kong applied for this authorization. The initial application deadline is set for the end of September.