The Hong Kong Monetary Authority (HKMA) has received 36 applications for stablecoin licenses from various institutions, including banks and tech companies, as of September 30. The HKMA plans to review these applications under the Stablecoin Ordinance and aims to announce the first batch of licenses early next year, initially issuing only a few licenses. Previously, the HKMA had encouraged interested parties to contact them by August 31 and submit applications by September 30.