According to BlockBeats, Hong Kong is rapidly advancing the establishment of a regulatory framework for stablecoin issuers. Recently, the city released a public consultation summary on stablecoin regulation. The report highlights that the next phase of development for Web3.0 in Hong Kong and globally focuses on bridging the gap between the virtual and real worlds, enabling seamless asset and fund transfers between the two systems. Real-World Assets (RWA) are seen as a crucial innovation to overcome technical barriers and accelerate the integration of virtual and real economies. In the foreseeable future, the majority of RWA transactions in Hong Kong are expected to be conducted using compliant Hong Kong dollar stablecoins, facilitating connections and interoperability with traditional finance. Without a compliant Hong Kong dollar stablecoin, the convenience and security of Hong Kong's RWA practices would face significant challenges. Therefore, the introduction of a stablecoin regulatory framework may lay the foundation for innovative development within Hong Kong's RWA ecosystem. As the RWA ecosystem thrives, the role and value of the Hong Kong dollar stablecoin as a bridge for Hong Kong's Web3.0 external connections will become increasingly prominent.
