PANews reported on October 2nd that, according to Jinshi, the Hong Kong Monetary Authority (HKMA) revealed that as of September 30th, it had received applications for stablecoin licenses from 36 institutions, including banks, technology companies, and other sectors. The HKMA will review applications in accordance with the Stablecoin Ordinance and aim to announce the first batch of licenses early next year, with only a limited number of licenses to be issued in the initial phase. Previously, the HKMA encouraged interested institutions to contact the HKMA by August 31st and submit their applications by September 30th.