BlockBeats news, on August 1st, according to Hong Kong Economic Times, Citi's latest research report indicates that the scale of the stablecoin market in Hong Kong could reach 16 billion USD, expecting stablecoins to increase demand for short-term high-quality liquid assets, which may compress short-term yields and promote the development of the local fixed income market.
On the stablecoin value chain, Citi has a potential preference for ZhongAn Online and Alibaba in terms of issuance, and is optimistic about Tiger Brokers' role as a distributor. Citi has given ZhongAn Online and Alibaba a 'Buy' rating, with target prices of 24 yuan and 144 yuan, respectively.