World is slowly moving away from the typical SWIFT payments to interbank stablecoins. And so the licenses in each nation and the ability to connect with the local consumers. So now the american banks like the HSBC, Standard chartered are moving to Hong Kong, Singapore and Dubai and take part in the internal network. 

Considering chinese authorities thinking towards the whole progress and the business, I feel this would be a good move for them to to accept the stablecoin. 

Anchorpoint financial is what is making the joint venture between the two banks. And they are the one applying for the licenses for the stablecoin operations. So this is a good direction that they are attempting as of now. I feel the China and Hongkong doing this is a good move and the growth is built into this. 

If you like my content on tech and crypto, do give me a follow on X/twitter profile.