Techub News reports, according to Caixin, Hong Kong may narrow the scope of the first batch of stablecoin licenses to three to four companies. The Hong Kong Monetary Authority has realized in its communication with the People's Bank of China that the main regulatory responsibilities and risks are concentrated in the Hong Kong Monetary Authority under the framework of the regulatory memorandum. Several Chinese-funded banks with branches in Hong Kong and Chinese securities firms with branches in Hong Kong are eager to participate in compliant stablecoin business in Hong Kong, including Bank of China Hong Kong, Bank of Communications Hong Kong, China Construction Bank (Asia), XinYin International, Guotai Junan International, etc., involving stablecoin issuance, custody, and other services. In addition, an insider stated in an interview related to stablecoins that our country currently does not have a globally influential public blockchain. Another insider suggested that national-level backbone public chains should be led by central state-owned enterprises, while industry-level public chain construction can open up market competition.