According to the Daily Economic News, Ant International and Ant Digital are planning to apply for a stablecoin license in Hong Kong, and Lianlian Digital is also exploring the possibility of applying for a license in Hong Kong. Xiaomi's Tianxing Bank announced a stablecoin partnership with JD Coin Chain Technology, a subsidiary of JD.com. JD Coin Chain Technology has also become one of the first participants in the Hong Kong Monetary Authority's stablecoin issuer sandbox. The stablecoin market is rapidly expanding, and the global total market value has risen to approximately $246.382 billion. In the international market, banks such as Bank of America and PayPal have announced the development of stablecoins, targeting the cross-border payment market. Mastercard will add a "stablecoin settlement" option in April 2025 to encourage merchants to adopt it.