Hong Kong media revealed that the number of institutions planning to apply for stablecoin licenses has increased to 50-60. Industry insiders speculate that only 3-4 will be approved in the initial phase. Additionally, in the early stages, stablecoins are likely to be pegged to the Hong Kong dollar and the US dollar. Regulatory oversight for offshore RMB-backed stablecoins might require involvement from the central bank. Source：Jinse Finance Report