Animoca Brands President: The stablecoin linked to the Hong Kong dollar will promote the rapid development of the cryptocurrency industry in Hong Kong

Animoca Brands President Yat Siu stated at the BUIDL Asia Conference held in Seoul on Thursday that once stablecoins linked to the Hong Kong dollar are approved for issuance in Hong Kong, they may occupy a unique territory in the already saturated cryptocurrency market. Hong Kong's stablecoins can find a unique pool of demand on a sizable scale, as the Hong Kong dollar is an equivalent to the US dollar, but not the US dollar, and is located outside of US territory.