JPMorgan Chase has released a report stating that the Hong Kong Monetary Authority granted stablecoin issuer licenses last week to two institutions: HSBC Holdings PLC and Anchored Fintech, a consortium formed by Standard Chartered PLC, Hong Kong Telecommunications (HKT) and BC Group. The bank views this as a positive development, reflecting Hong Kong's support for digital assets. Although stablecoins are not expected to contribute meaningfully to the two banks' revenues in the near to medium term, they are likely to bolster market sentiment toward both institutions. Given that HSBC and Standard Chartered are note-issuing banks in Hong Kong, JPMorgan expects them to work closely with the HKMA to minimize any potential disruption to the existing financial system from the circulation of stablecoins. At the corporate level, the bank anticipates that both institutions will integrate stablecoins into their payment ecosystems. Standard Chartered has more user use cases than HSBC, owing to its broader involvement in the digital asset business sector.