You will soon be able to use Hong Kong dollar stablecoins to buy Bitcoin.
The Hong Kong Stablecoin Regulation will take effect on August 1, requiring issuers of Hong Kong dollar stablecoins to be licensed, enhancing compliance and risk control.
The new regulations focus on institutional framework construction, making it difficult for ordinary retail investors to access Hong Kong dollar stablecoins in the short term, and practical application scenarios such as transfers and investments have yet to materialize.
US dollar stablecoins (such as USDT), due to their global liquidity, remain the preferred choice for cross-border payments.
BiyaPay supports quick exchanges of USDT for over 30 fiat currencies, with stable withdrawals, zero frozen cards, and one-click international remittances that are secure and efficient.
Users do not need to wait for Hong Kong dollar stablecoins; they can prioritize using USDT through BiyaPay for convenient cross-border circulation. This move by Hong Kong promotes fintech leadership, but widespread adoption will take time.