[Xu Zhengyu: Regulated Stablecoins in Hong Kong Expected to Launch Gradually from Mid-Year to Second Half] Foresight News reports, according to AASTOCKS, Hong Kong's Secretary for Financial Services and the Treasury, Xu Zhengyu, stated in a Legislative Council reply that the Hong Kong Monetary Authority (HKMA) granted stablecoin issuer licenses to two bank-backed institutions in April this year. The regulated stablecoins issued by these institutions are expected to launch gradually from mid-year to the second half. Licensed issuers are required to store reserve assets in Hong Kong banks and invest in eligible assets such as bank deposits and high-quality, highly liquid bonds. Additionally, the government and the Securities and Futures Commission (SFC) will submit a bill to the Legislative Council within the year to establish a more comprehensive regulatory framework for virtual asset trading, custody, advisory, and management services.