PANews reported on July 14 that according to Hong Kong 01, with the "Stablecoin Ordinance" to be officially implemented on August 1, 50 to 60 companies are interested in applying for Hong Kong stablecoin licenses, half of which are payment institutions and the other half are well-known Internet companies, most of which have Chinese backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, and the initial stablecoins will mainly be pegged to the Hong Kong dollar and the US dollar.