According to Odaily Planet Daily, Chinese tech companies may collaborate with digital banks (formerly known as virtual banks) to apply for Hong Kong stablecoins. Many Chinese tech giants are shareholders in local digital banks. These and other financial institutions are focused on tokenized asset trading and cross-border payments, and therefore may form partnerships with Hong Kong digital banks to promote the issuance of stablecoins. Futu Group Managing Director Zeng Yuchao has stated that the company will explore allowing users to use stablecoins as platform balances or holdings to buy stocks, and will assist with fiat currency clearing and settlement to facilitate their investments. (Hong Kong media Ming Pao)