Yuan Coin Technology Explores Stablecoin Opportunities in Hong Kong

According to BlockBeats, Yuan Coin Technology CEO Liu Yu discussed the company's regulatory discussions and strategic research over the past year with the Hong Kong Monetary Authority. The company plans to launch its initial stablecoin business focusing on three application scenarios: cross-border trade and payments, a licensed virtual asset exchange in Hong Kong, and the tokenization of real-world assets (RWA) in Hong Kong. The Stablecoin Ordinance provides room for multi-currency stablecoins. Liu Yu mentioned that while Yuan Coin is initially focusing on the Hong Kong dollar, there are plans to issue stablecoins in other currencies in the future. Additionally, the company intends to expand its presence in the RWA sector. Previously, in July of last year, the Hong Kong Monetary Authority announced the first list of three stablecoin issuers, which included Yuan Coin Innovation Technology Co., Ltd. (a subsidiary of Yuan Coin Technology), JD Coin Chain Technology (Hong Kong) Limited, and a consortium comprising Standard Chartered Bank (Hong Kong), Anmi Group, and Hong Kong Telecom.