Ta Kung Pao: In the future, most RWA transactions in Hong Kong will be completed with compliant Hong Kong dollar stablecoins
On August 15th, according to Hong Kong Ta Kung Pao, Hong Kong is accelerating the establishment of a regulatory system for stablecoin issuers and has recently released a summary of public consultations on stablecoin regulation.
The report points out that Hong Kong and even the next stage of development for Web3.0 globally is to break down the barriers between the virtual world and the real world, allowing assets and funds to freely flow between the two systems. RWA is an important innovation that breaks down technological barriers and accelerates the integration of virtual and real worlds.
In the foreseeable future, the vast majority of RWA transactions in Hong Kong will be completed using compliant Hong Kong dollar stablecoins, and will be connected and interoperable with traditional finance through stablecoins. Without compliant Hong Kong dollar stablecoins, there will be significant challenges in terms of convenience and security for RWA practices in Hong Kong. Therefore, the introduction of a stablecoin regulatory framework may lay the foundation for the innovative development of Hong Kong's RWA ecosystem, and as the RWA ecosystem thrives, the role and value of Hong Kong dollar stablecoins as a bridge to connect Hong Kong's Web3.0 with the outside world will become more prominent.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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