HSBC Plans H2 Hong Kong Stablecoin Launch as Coinbase and Marqeta Expand Enterprise Stablecoin Cards
Institutional stablecoin rails expand across Hong Kong banking and Base Layer-2 corporate card settlement.
HSBC Plans H2 Hong Kong Stablecoin Launch; Coinbase and Marqeta Expand Enterprise Stablecoin Cards
Institutional stablecoin adoption accelerated across both Asia and the United States this week. HSBC Chief Executive Georges Elhedery announced plans to issue a regulated stablecoin in Hong Kong during the second half of the year as the banking group expands its digital asset custody and settlement operations.
Simultaneously, payment technology provider Marqeta and Coinbase expanded their six-year partnership to let corporate clients issue stablecoin-backed payment cards with 24/7 funding, automated digital-to-fiat conversion managed by Coinbase, and on-chain settlement on Coinbase's Layer-2 network Base.
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