IDA Hong Kong, a virtual asset firm, intends to apply for a stablecoin issuance license in Hong Kong, as reported by Wenweipo. This move signifies a growing interest in stablecoins as a tool for future financial transactions. IDA co-founder, Jue Cheng Yu, emphasized the potential of stablecoins, stating, "Stablecoins are highly likely to be used as a means of cross-border commerce and fund settlement in the future." This highlights the perceived efficiency and utility of stablecoins in streamlining international transactions. Hong Kong's regulatory landscape regarding virtual assets is evolving, and IDA's pursuit of a stablecoin license reflects a proactive approach to navigating this emerging market. This development could pave the way for wider adoption of stablecoins within Hong Kong and potentially influence the broader Asian market. The application also signals confidence in Hong Kong's commitment to becoming a virtual asset hub. ```