Wu Blockchain has learned, according to Sing Tao Daily, that Ripple's Global Head of Policy Rahul Advani stated that as other jurisdictions gradually establish stablecoin frameworks, the Hong Kong Monetary Authority can advance the mutual recognition mechanism for regulatory frameworks. When Hong Kong recognizes mechanisms from other regions, locally licensed stablecoins are expected to circulate in Hong Kong, while Hong Kong stablecoins can also circulate in other regions.