[Chen Maobo: The Hong Kong Financial Services Administration will process applications for stablecoin licenses as soon as possible] The Secretary for Financial Services of Hong Kong, Chen Maobo, recently wrote an article noting that with the rapid development of the digital asset market, the demand for stablecoins is likely to grow. Stablecoins can be used as a medium of exchange without the time and territorial limitations of traditional payments, and due to their programmability, they can open up a variety of innovative solutions, automating and intellectualizing financial services processes. It should be noted that many market participants are very interested in this, and after the "Stablecoin Act" comes into force, the Hong Kong Financial Services Administration will process the received license applications as soon as possible so that qualified applicants can start their activities.