HSBC just dropped a Hong Kong dollar stablecoin 🇭🇰
But here's the reality check: ALL of Asia's local-currency stablecoins combined? Only ~$195M.
Meanwhile one Singapore dollar stablecoin ($USDG) is sitting at $3.08B.
The gap is wild. Local currency stables are still niche plays while dollar-pegged ones dominate liquidity. HSBC entering means TradFi is testing waters, but adoption is the real question here.
Watching if this gets any real traction or just becomes another compliance box-tick.
But here's the reality check: ALL of Asia's local-currency stablecoins combined? Only ~$195M.
Meanwhile one Singapore dollar stablecoin ($USDG) is sitting at $3.08B.
The gap is wild. Local currency stables are still niche plays while dollar-pegged ones dominate liquidity. HSBC entering means TradFi is testing waters, but adoption is the real question here.
Watching if this gets any real traction or just becomes another compliance box-tick.
