Yat Siu: Hong Kong’s cryptocurrency sector may grow through Hong Kong dollar stablecoins

Animoca Brands co-founder Yat Siu said that once approved in Hong Kong, China, the Hong Kong dollar-pegged stablecoin will occupy a unique position in the cryptocurrency market. Yat Siu said: “The interesting difference with the Hong Kong dollar compared to most other currencies is that it is pegged to the U.S. dollar. So if you want another currency that is regulated, although it is not the currency of the United States, it is still pegged to the U.S. dollar. System-linked, I think the Hong Kong dollar is going to be a very interesting alternative.” Siu explained that Hong Kong’s stablecoin may find a large and unique demand base because the Hong Kong dollar is the equivalent of the U.S. dollar, which it is not and is not located in the United States. (The Block)