TechFlame reports that according to Hong Kong 01's disclosure, the number of institutions that intend to apply for a Hong Kong stablecoin license has increased to 50-60. Half of them are payment companies and the other half are internet companies, and most of them have a Chinese background, which may mean that market competition has begun. Industry insiders believe that after the Hong Kong stablecoin regulations come into effect on August 1, there will be a large influx of applications, but it is expected that only 3-4 will be approved in the first phase, and the total number will not exceed 10. Furthermore, the linked currencies may initially be the Hong Kong dollar and the US dollar. The regulation of offshore RMB stablecoins may require the participation of the central bank.