According to a report by Hong Kong Wen Wei Po, Hong Kong Monetary Authority (HKMA) Deputy Chief Executive Arthur Yuen stated that the choice of which currency to issue for stablecoins primarily depends on the issuer's own business considerations. Currently, the first two licensed institutions will initially launch Hong Kong dollar stablecoins. In the future, issuing other currencies, including the Chinese yuan, is permitted under Hong Kong's framework, but applicants must obtain approval from mainland authorities. As for when the second batch of licenses will be issued, Yuen mentioned there is no specific timeline yet, but they are maintaining communication with interested applicants. Additionally, HSBC revealed that its Hong Kong dollar stablecoin is planned for launch in the second half of the year. It will seamlessly integrate with PayMe and the HSBC HK App, supporting peer-to-peer (P2P) transfers, peer-to-merchant (P2M) payments, and subscription to tokenized investment products. https://www.(wublock123.com)/news/hkma-vp-hong-kong-allows-cnyn-stablecoin-issuance-with-mainland-approval-59400