Oh yeah

According to PANews, the Hong Kong (Stablecoin Regulation) will take effect on August 1st, and currently, 50 to 60 companies are interested in applying for stablecoin licenses. Half of these are payment institutions, while the other half are well-known internet companies, with most having Chinese backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, with the initial stablecoins primarily pegged to the Hong Kong dollar and the US dollar.