Bloomberg Industry Research released a report exploring the potential of the Hong Kong stablecoin market and its impact on the foreign exchange market. Analysts said that since any stablecoin pegged to the Hong Kong dollar is backed by Hong Kong dollar cash or cash equivalents, the stablecoin will still be affected by the pegged exchange rate between the Hong Kong dollar and the US dollar. Even if the value of the stablecoin remains stable during any potential adjustment of the linked exchange rate, the assets supporting the stablecoin may need to be revalued, so it is believed that the future stablecoin in Hong Kong may be pegged to real-world assets In addition, since stablecoin issuers must hold corresponding fiat currencies, a large and tokenizable reserve of high-quality assets will enable the popularization of stablecoins in Hong Kong, and the new medium of exchange will also release the liquidity of real-world assets in Hong Kong. (RTHK)