Animoca Brands: Plans to establish a joint venture with Standard Chartered Bank and Hong Kong Telecom to issue a Hong Kong dollar-pegged stablecoin

Hong Kong Financial Secretary: Does not rule out the possibility of a stablecoin pegged to the Renminbi; the use of stablecoins is to return to the essence of finance.

Animoca is a VC in Hong Kong, with impressive achievements, having invested in many games during the last bull market of 2019-2020, with listings on exchanges seeing increases of several dozen to hundreds of times; the private placements he invested in returned hundreds to thousands of times, gaining fame and completing the initial accumulation of capital.

AXS listed on Binance, retail investors could buy at prices between 0.2-0.6, the best being 166, while the institutional price dropped below 0.1, I remember it being 0.01-0.05. At that time, I had very little quota, which a friend from OK VC gave me; I was foolish and sold at 1, making several times profit. This game is quite foolish, so I exited.

Promotion of stablecoins in Hong Kong, if subsequently pegged to the Renminbi, will promote the tokenization of Hong Kong stocks. If stock tokenization proceeds smoothly, all altcoins are bound to die out. Without a wealth creation effect, no one will recklessly gamble; at least with stocks, you can study the fundamentals, but in the altcoin space, without some professional ability, it's impossible to research the fundamentals, and a bunch of professional terms can be quite dizzying.