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Bank of China Shares Surge 6.7% Amid Stablecoin License Speculation
Bank of China Shares Surge 6.7% Amid Stablecoin License Speculation
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BTCCSquare news:
Bank of China's Hong Kong-listed shares climbed 6.7% to HKD 37.580 following reports of its potential application for a stablecoin issuer license. The bank has established a dedicated task force and is preparing submission materials under Hong Kong's new regulatory framework for fiat-backed stablecoins.
Market analysts view this MOVE as strategically significant, potentially positioning Bank of China as a major player in the stablecoin market. The development could introduce a commercial counterpart to China's digital yuan, with over 40 financial institutions including Standard Chartered having expressed similar interest in the licensing regime.
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