Deep Tide TechFlow News, on July 11, according to Hong Kong Commercial Daily, Tian Sheng Capital announced plans to apply for a Hong Kong stablecoin license, aiming to promote cross-border trade settlement services in the cultural industry. The company will establish a digital asset trading and settlement company, using stablecoins as the digital currency for art transactions and settlements, facilitating the exchange of art and cultural relics between the Middle East, Southeast Asia, and Hong Kong.

Tian Sheng Capital's CEO Matthew Tai stated that the company will strictly adhere to the Hong Kong Monetary Authority's regulatory principle that "stablecoins should be positioned as payment tools rather than speculative tools," ensuring that the issued stablecoins are backed by sufficient legal currency reserves.