According to Foresight News, as reported by Ming Pao, Chinese-funded technology companies may collaborate with digital banks (formerly known as virtual banks) to apply for the issuance of Hong Kong stablecoins. Many Chinese technology giants are themselves shareholders of local digital banks in Hong Kong, and they, along with 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 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 handling fiat currency clearing and settlement processes for their investments.