IMF Deputy Managing Director: What Stablecoins Mean for Emerging Markets

Author: Dan Katz, First Deputy Managing Director of the International Monetary Fund (IMF); Compiled by: Qin Jin The following is the full text of the speech delivered by Dan Katz, First Deputy Managing Director of the International Monetary Fund (IMF), at the University of Cape Town in South Africa on August 7. Good morning. Thank you, Vice-Chancellor, for your kind introduction. I am delighted to be here at the University of Cape Town. While this may be the oldest institution of higher learning in the region, it is also one of the most forward-looking and future-oriented universities, thanks to your Financial Innovation Hub. As new technologies reshape

Jinse FinanceAug 14 08:49

What will happen to Hong Kong's Web3 ecosystem following the launch of its first compliant HKD stablecoin?

The Hong Kong stablecoin market has reached a significant milestone. On August 12, Anchorpoint Financial launched the first phase of its Hong Kong dollar stablecoin, HKD At Par (hereinafter referred to as "HKDAP"), initially making it available to institutional distributors and professional investors. This is neither a retail-oriented "mass-market stablecoin" nor another crypto-asset project reliant on liquidity and exchange trading volumes for growth. Rather, it is the first compliant Hong Kong dollar stablecoin product to enter operational status following the implementation of Hong Kong's Stablecoin Ordinance. For Hong Kong, the significance of HKDAP lies in its attempt to bridge the digital gap.

Jinse FinanceAug 13 23:50

Hong Kong's first compliant stablecoin, HKDAP, has been officially launched, with the initial batch of institutional distributors and professional investors granted access.

Source: Caiwen. As more ecosystem partners gradually join, exploration of retail-level applications remains targeted for an initial launch by the end of 2026, subject to market conditions. On August 12, the Hong Kong stablecoin market witnessed a historic moment. Anchorpoint Financial, jointly established by Standard Chartered Bank (Hong Kong), Animoca Group, and HKT, officially launched "HKDAP" (HKD At Par), a regulated stablecoin pegged to the Hong Kong dollar. This marks the first project to materialize under Hong Kong’s licensing regime for compliant stablecoin issuers. On the same day, Anchorpoint Financial announced the commencement of its initial phase of promotion.

Sina FinanceAug 13 09:12

Shareholders to Inject Over RMB 10 Billion in Two Rounds Within the Year: The Capital Calculus Behind HSBC Life's Fifth Capital Increase

① Since becoming a wholly foreign-owned life insurer, HSBC Life has launched five rounds of capital increases; ② HSBC Insurance (Asia) is making its second investment this year, planning to inject RMB 472 million into HSBC Life.

cls.cnAug 6 21:39

Express News | Will the second batch of stablecoin licenses be issued around National Day? Hong Kong Monetary Authority: No comment on market rumors; maintains an open yet cautious stance

BreakingsAug 6 11:21

HSBC trims down again! Blackstone acquires its Australian mortgage assets for $25 billion

① HSBC Holdings has signed an agreement with Blackstone to sell its Australian residential and personal loan portfolio, valued at AUD 36 billion (approximately USD 25 billion), with the transaction expected to close in the first half of 2027; ② HSBC stated the sale will result in a non-material loss of less than USD 100 million; ③ The remaining retail banking operations in Australia will be wound down within the next 18 months.

cls.cnJul 31 16:24