Hong Kong has attracted significant interest from a wide range of institutions, including banks, tech firms, financial companies, and online platforms, for licenses to launch stablecoins. As of the end of August, 77 entities have expressed their desire to operate under this program, according to PANews. The Hong Kong Monetary Authority (HKMA) is actively engaging with these interested parties, holding meetings to discuss the technical requirements of the program and clarify expectations about the licensing process. It’s crucial to note that expressing interest in the program does not automatically guarantee approval for a license. Final approvals will be based on the completeness and strength of applications which may only receive a limited number of licenses initially. The HKMA also advises the public to exercise caution against investments or promotions linked to unlicensed stablecoin platforms.