According to online reports, Yu Weiwen, President of the Hong Kong Monetary Authority, revealed that he had received many inquiries about stablecoin license applications and said that it seemed that "everyone wants to become an issuer." However, the relevant HKMA has very strict requirements on stablecoin issuers. It is expected that only a small number will be licensed in the initial stage, and the relevant number will not be counted as 10 or 20. At the same time, Yu Weiwen mentioned that the Hong Kong Monetary Authority's stablecoin sandbox program is experimental in nature and is an industry experience sharing. Projects currently in the sandbox may not ensure obtaining a stablecoin issuer license, and will also be regarded as a new application in the future.(fresh application).