"The real target of Hong Kong's 'open conspiracy' has never been stablecoins" (Author: Will 阿望) If you assume the goal of this licensing initiative is to "expand the HKD stablecoin industry," then not every detail might make sense. But what if we change the assumption—what if the real aim of this licensing initiative was never about supporting the "commercial stablecoin industry" itself? HSBC and Standard Chartered might not even be approaching this with strategic intent. For HSBC, applying for an HKD stablecoin license seems more like a defensive move rather than an active strategy. Standard Chartered shows some initiative, but for them, Hong Kong is just one node in their global network—it has never been their main battlefield. The one with true intent and local relevance, Bank of China (Hong Kong)—is absent. Read the full article: https://(wublock123.com)/articles/hong-kong-plot-target-not-stablecoin-58844