The Hong Kong Monetary Authority (HKMA) has received expressions of interest from 77 institutions aiming to apply for stablecoin issuer licenses. These entities span various sectors, including banking, technology, securities, asset management, e-commerce, payment services, and Web3 startups. The HKMA has conducted preliminary meetings with these institutions, clarifying that these interactions do not equate to license approval. The authority emphasized that final licensing will be contingent on meeting specific requirements, with only a limited number of licenses expected to be issued initially. The public is advised to be cautious of unlicensed stablecoin promotions.