Deep Tide TechFlow News, on August 26, according to Hong Kong media Ming Pao, Chinese-funded technology companies may collaborate with digital banks (formerly known as virtual banks) to apply for a stablecoin in Hong Kong. Many Chinese technology giants are themselves shareholders of local digital banks in Hong Kong. They and financial institutions are focusing on tokenized asset trading and cross-border payments, which may lead to partnerships with Hong Kong digital banks to promote the issuance of stablecoins. Futu Group's Managing Director, Zeng Yuchao, has stated that they will explore allowing users to use stablecoins as platform balances or holding assets to purchase stocks and assist in processing fiat currency clearing and settlement to facilitate their investments.