According to Hong Kong Wen Wei Po, Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin stated that the choice of which currency to issue for stablecoins mainly depends on the issuer’s business considerations. Currently, the first two licensed institutions will initially launch Hong Kong dollar stablecoins. In the future, if other currencies including the Renminbi are issued, it is permitted under Hong Kong’s system, but applicants need approval from mainland authorities. Regarding when the second batch of licenses will be issued, Chen Weimin said there is no specific timetable at the moment, but they have been maintaining communication with interested applicants. Additionally, HSBC revealed that its Hong Kong dollar stablecoin plan is scheduled to launch in the second half of the year and will seamlessly integrate with PayMe and HSBC HK App, supporting peer-to-peer (P2P) transfers, person-to-merchant (P2M) payments, and subscription to tokenized investment products.