According to Foresight News, as reported by Sina Finance, Tianyang Technology (stock code 300872) stated during an institutional research that institutions such as JD.com and Ant Group have participated in the Hong Kong dollar stablecoin pilot. They are still adopting an open ecosystem strategy and hope to have more partners involved. Furthermore, the circulation of the stablecoin outside of their own ecosystem still requires infrastructure support from third-party institutions. There are clear collaboration opportunities for U Card in the circulation process. Currently, the company has entered the later stage of cooperation with a Hong Kong dollar stablecoin issuing institution.