According to a source familiar with the matter, the coalition intends to utilize the institutional digital asset custody capabilities of Zodia Custody, which is partially owned by Standard Chartered. It was reported by crypto.news that a “vast majority” of the 108 respondents to a public consultation have agreed on the necessity for regulatory oversight as virtual assets continue to develop.
Eddie Yue, the HKMA Chief Executive, emphasized the potential for a well-regulated environment to promote the sustainable and responsible expansion of the stablecoin ecosystem in Hong Kong.
