Hong Kong fintech company IDA plans to apply for a stablecoin license

Zhu Chengyu, co-founder of the Hong Kong fintech company IDA and a member of the Hong Kong Special Administrative Region's Third Generation Internet Development Task Force, stated that the company plans to apply for a Hong Kong stablecoin license. He also revealed that stablecoins are expected to be used in Hong Kong as a tool for cross-border trade and investment settlement.