While most countries are still waiting and watching on stablecoins, Hong Kong has quietly taken a key step.
Recently, (Hong Kong Wenhui News) reported that **Ritta Logistics Technology Holdings (RITR)** plans to apply for a license to issue two tokens after the Hong Kong (Stablecoin Ordinance) takes effect:
RHKD: A stablecoin pegged 1:1 to the Hong Kong dollar
RBTC: A 1:1 BTC token backed by 100% Bitcoin reserves
This is not just the action of a single company, but an important layout of Hong Kong in the on-chain financial track.
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🧠 1. From "cryptocurrency speculation" to "financial system architecture"
Rather than saying that RITR is issuing coins, it is better to say that it is rebuilding an on-chain asset system:
RHKD can be used to stabilize payment, settlement and trading platforms
RBTC can be used as an on-chain mapping of BTC, and can be used in DeFi and cross-chain applications.
These two, combined with the Hong Kong government's regulatory mechanism, have made it possible for the first time for the Hong Kong dollar on the chain to have a legal basis, in addition to the "on-chain US dollar".
This is a complement to the existing USDT/USDC structure and even has the potential to impact the crypto settlement landscape in Asia.
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💡 2. MicroStrategy reincarnates? This time in Hong Kong
RITR also announced the launch of a $1.5 billion Bitcoin acquisition program, paid for in company stock, which is directly reminiscent of the MicroStrategy model in the United States.
The difference is:
MicroStrategy is pure asset allocation
RITR is to support the issuance of RBTC and establish an on-chain BTC anchoring system
This design that combines "corporate reserves + tokenization" is a practical implementation of Web3 financial engineering.
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🌐 3. Why is this so important to the DeFi ecosystem?
The pain points of DeFi have always been:
Most on-chain assets come from centralized issuers, and there is a lack of regional alternatives
There are very few assets that can truly be linked to real finance.
Stablecoins are overly concentrated in the USD system and lack decentralized or diversified options
The emergence of RHKD and RBTC:
It may be the first dual-asset system in East Asia that is "government-backed", "corporately reserved" and "available on the chain"
For Asian users, it is a new entry point for regional stablecoins and BTC
For DeFi protocols, it is a tentacles of broader liquidity
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⏳ 4. It’s still early days
Most people don’t realize yet:
The next battlefield for stablecoins is localized stablecoins
BTC on-chain assets will no longer be simply packaged products (WBTC), but institutionalized mappings
Hong Kong is just the first region to open this door, and other cities will follow suit.
For investors, this means:
> The real "on-chain national asset system" is taking shape, but you are still in the early stages.
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🎯 Conclusion: The prototype of a new order is taking shape in Asia
From RITR's layout, it can be seen that cryptocurrency is no longer just a speculative commodity, but an extension of the global financial architecture.
Hong Kong has the opportunity to seize the leading position in Asia's Web3 financial hub.
The war of stablecoins has just begun.
But the future has already written its prologue here.