PANews reported on August 12 that according to Tencent News' "First Line" report, Fosun International, a Hong Kong-listed company, has formed a team to apply for a Hong Kong stablecoin license. Founder Guo Guangchang personally led the team to visit Hong Kong Chief Executive John Lee and Financial Secretary Paul Chan on August 6.

The application process for Hong Kong's stablecoin license has begun, with applicants required to submit their materials by September 30th. Fosun's wealth management division has already entered the Web3 business and is developing RWA tokenized products through Star Road Technology. Fosun Wealth also recently submitted trademark applications for "Star Coin" and other trademarks .