BlockBeats News, June 21st, Yuan Technology CEO Liu Yu stated in an interview with 21st Century Business Herald that in the past year, Yuan Technology has discussed many regulatory aspects with the HKMA, while conducting in-depth research on application scenarios, business strategies, and more.
Yuan Technology will initially focus on stablecoin business in three application scenarios: cross-border trade and payments, a licensed virtual asset exchange in Hong Kong, and Hong Kong's Real World Asset (RWA) tokenization.
Furthermore, the "Stablecoin Regulation" leaves room for multi-currency stablecoins. Liu Yu stated that although Yuan will start with the Hong Kong dollar, they hope to issue stablecoins in other currencies in the future. Additionally, Yuan will also make some deployments in the RWA field.
In earlier news, in July last year, the Hong Kong Monetary Authority announced the first three stablecoin issuers, including Circular Coin Innovation Technology Limited (a subsidiary of Yuan Technology), JD Coinlink Technology (Hong Kong) Limited, and a consortium composed of Standard Chartered Bank (Hong Kong), ANNA Group, and Hong Kong Telecom.
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