On August 15, according to the Hong Kong Ta Kung Pao, Hong Kong is accelerating the establishment of a regulatory system for stablecoin issuers, and recently released a public consultation summary on stablecoin regulation.
The report mentioned that the next stage of development of Web3.0 in Hong Kong and even the world is to break the boundaries between the virtual world and the real world and realize the free flow of assets and funds between the two systems. RWA (real world asset tokenization) is the key innovation to break technical barriers and accelerate the integration of virtual and real.
In the future, most of Hong Kong's RWA transactions may be carried out based on compliant Hong Kong dollar stablecoins, and seamlessly connect with traditional finance through such stablecoins. Without compliant Hong Kong dollar stablecoins, Hong Kong's RWA practice will face huge challenges in terms of convenience and security. Therefore, the introduction of a stablecoin regulatory framework may become the cornerstone of Hong Kong's RWA ecological innovation and development. With the prosperity of the RWA ecosystem, the bridge role and value of Hong Kong dollar stablecoins in Hong Kong's Web3.0 will become more prominent.
