According to Foresight News, a public consultation document on stablecoins jointly issued by the Hong Kong Financial Services and Treasury Bureau and the Monetary Authority has attracted interest from over 100 project teams. OneDegree, a Hong Kong-based digital asset insurance company, revealed that these teams are interested in developing stablecoins for various use cases, including payments, cross-border trade financing, equity and debt capital markets, decentralized finance (DeFi), and GameFi. Some projects are also interested in applying for virtual asset service provider (VASP) licenses in Hong Kong.