BlockBeats news, on June 21, China International Capital Corporation published an article (Potential Impact of Stablecoins on the Financial System), which pointed out: from the perspective of currency creation, lending activities within the decentralized financial system have realized the creation function of 'quasi-money,' especially through stablecoins purchasing tokenized stock assets, which will lead to funds flowing directly in/out of the stock market; from the perspective of market sentiment, cryptocurrency prices are highly volatile, affecting stock market expectations. Historically, there has been a certain correlation between the Nasdaq index and Bitcoin prices; in the stock market, crypto assets and stablecoin-related targets, such as cryptocurrency exchanges and financial institutions, influence stock prices through changes in fundamentals.
For the Hong Kong dollar, regulating stablecoin issuance, especially Hong Kong dollar stablecoins, helps to enhance the influence of the Hong Kong dollar in cross-border payments and crypto assets, strengthening the international competitiveness of Hong Kong's financial industry and the Hong Kong dollar, and consolidating Hong Kong's status as an international financial center.
