Sources familiar with the matter: HSBC and Standard Chartered Bank may be among the first institutions to receive approval for "Hong Kong stablecoin licenses," with issuance expected by the end of March.

According to ChainCatcher, citing Techub News, multiple sources revealed that the first batch of compliant stablecoin licenses in Hong Kong is expected to be issued by the end of March, with HSBC and Standard Chartered Bank likely to be among the first to receive approval.

Sources familiar with the matter said that after the first round of licenses were issued, the approval process for the second round of licenses will be expedited and is expected to be released soon.