What do you think about the stablecoin that JD Coin Chain Technology is about to launch in Hong Kong, which is pegged to the Hong Kong dollar at a 1:1 ratio?
At present, the stablecoins in the market mainly include USDT, USDC, BUSD, TUSD, etc. They are mainly exchanged 1:1 with the US dollar as the benchmark and pegged to the US dollar.
The emergence of JD Coin Chain actually reflects China's attitude towards cryptocurrencies. If cryptocurrencies are only tied to the US dollar, then the instability is self-evident.
If there is a systemic financial crisis in the US dollar system, then USDT, as a stablecoin, will also depreciate. At this time, as a currency other than the US dollar, the Hong Kong dollar may be one of the currencies used as a guarantee.
Although the Hong Kong dollar is issued based on the US dollar, the Hong Kong dollar is backed by China. As long as the Hong Kong dollar is directly pegged to the RMB in the future, this risk can be resolved, and a large amount of funds will flow from Hong Kong to the mainland.
Although we have no way of knowing what the subsequent disposal methods will be, I believe that the Hong Kong dollar will not collapse with the collapse of the US dollar.
A problem can be reflected from the side, that is, the currency circle will not collapse directly. The current cryptocurrency used in the market is backed by the US dollar, and may be backed by the RMB or other currencies of countries that support cryptocurrency.
Follow Dayang Digital Chain
