PANews reported on July 11 that according to the Hong Kong Commercial Daily, Tiansheng Capital plans to apply for a Hong Kong stablecoin license by establishing a digital asset trading and foreign exchange settlement company, and plans to use its stablecoin as a digital currency for its art transactions and foreign exchange settlements to promote art and cultural relics transactions in Hong Kong. It is reported that Tiansheng Capital hopes to use the Hong Kong stablecoin platform as a compliant digital payment solution, focusing on cross-border trade settlement services.