Why is it explosive?
Previously, Hong Kong's attitude towards stablecoins was 'let's wait and see,' but now they have directly released a set of regulations (stablecoin regulations), which is equivalent to establishing rules for the market: Who wants to issue coins? Go ahead! But you must play by the rules—adequate reserves, risk management, and a license in hand before you start! This move is like handing a 'compliance entry ticket' to institutional players; traditional banks and tech giants no longer have to operate in secrecy.
What kind of tricks is Standard Chartered pulling?
For example 🌰: Standard Chartered Hong Kong is teaming up with AIG Group and Hong Kong Telecom to prepare for the launch of the 'Hong Kong dollar stablecoin.' This lineup is simply amazing—banks manage funds, tech companies provide technology, and telecom giants create scenarios, a complete set of 'cash capability + cutting-edge technology + down-to-earth'! I'm so excited that I'm rubbing my hands; if this works out, using a 5G phone to instantly transfer Hong Kong dollar stablecoins to buy milk tea, who knows, there might even be zero transaction fees for cross-border transfers in the Greater Bay Area, just thinking about it is thrilling!
What can retail investors gain?
Don't just focus on institutional excitement; ordinary people have plenty of opportunities too!
Passive income from interest: Following the model of USDT and USDC, after the launch of the Hong Kong dollar stablecoin, exchanges and DeFi platforms are likely to push for high-yield financial products, annualized 5%? 8%? Sounds great!
Speculating on volatility: The Hong Kong dollar is pegged to the US dollar, but if the international situation becomes turbulent (you know what I mean), the Hong Kong dollar stablecoin could become a new safe haven, and price fluctuations could present opportunities.
Airdrop frenzy: When new coins launch, exchanges often distribute money to attract users with 'sign up and receive,' leading to great joy for those looking to profit!
But don't get too carried away!
Although this wave in Hong Kong is stable, the US dollar stablecoins (USDT, USDC) already occupy 90% of the market. Can the Hong Kong dollar stablecoin compete? It depends on whether anyone is willing to use it! If it can only be used to buy rice rolls in the Greater Bay Area, it might as well be Alipay... So these big shots at Standard Chartered need to quickly come up with some 'killer applications,' like linking with the Hong Kong Stock Exchange to develop a cryptocurrency IPO, or having Hong Kong Telecom create a 'stablecoin data plan.' Now that’s what I call innovative!
Follow me, next time I will analyze: Which altcoins will surge due to Hong Kong's policies?