The era of Web3 Compliance has arrived, and Hong Kong's stablecoin policy leads Asia

Web3 has officially entered a new era of Compliance. On May 30, 2025, Hong Kong's "stablecoin regulations" were officially passed, becoming Asia's first regulatory framework for systematically regulating fiat stablecoins. This initiative has pointed the way for the development of Web3 and provided clear rules for industry participants.

In this new era, some key participants are gradually emerging. Although they may not be on the list of Hong Kong's stablecoin sandbox, they are quietly making efforts behind the scenes, contributing significantly to the comprehensive development of the stablecoin ecosystem. These participants are building a complete ecosystem for the issuance, circulation, and application of stablecoins, including providing liquidity support, trading platforms, and key infrastructure.

Compliance trading platform: the "deep water harbor" of stablecoins

After the issuance of stablecoins, users need a secure and compliant trading platform. An ideal trading platform should accommodate large-scale transactions while ensuring orderly operation of rules.

Currently, multiple companies that have entered the "sandbox" list of stablecoin issuers have chosen the same trading platform as the launch point for their stablecoins. This platform is not only the largest licensed virtual asset exchange in Hong Kong but also expects to exceed 600 billion HKD in trading volume in 2024, demonstrating strong liquidity depth. Additionally, the platform holds digital asset-related licenses in several regions, including Hong Kong, Singapore, Japan, Dubai, and Bermuda, providing users with a safe and compliant trading environment.

It is worth noting that this platform also offers highly competitive market rates. According to publicly available data, the transaction fee for USDC/USD trading on this platform is only 0.03%, which is significantly lower than the rates of traditional banks or offline exchange institutions.

Public Chain Technology: The "Golden Route" of Stablecoins

The prosperity of stablecoins relies on efficient and secure underlying technological support. A public chain that is highly compatible with the characteristics of stablecoins can not only promote the development of its own ecosystem but also provide security, efficiency, and application scenarios for stablecoins, achieving a win-win situation.

A new emerging public chain is becoming the compliant "golden channel", safely bringing the capital from the traditional world into the compliant harbor of Web3. The core advantage of this public chain lies in the construction of a complete "issuance - scenario - assetization" closed loop, promoting stablecoins to break through the limitations of being mere payment tools and truly integrating into the cycle of the financial system.

More importantly, the stablecoins deployed on this public blockchain can seamlessly enter various financial application scenarios. After holding stablecoins, users can instantly exchange them for tokenized security shares on the platform. Currently, there are already several products on this public blockchain, including tokenized US dollar funds, HKD/USD money market ETF funds, and multi-currency tokenized securities, and more tokenized financial asset products will be launched in the future.

Institutional-level services: the "high-speed channel" of stablecoins

Traditional over-the-counter trading markets are often inefficient, with funds needing to pass through multiple intermediaries, increasing costs and risks. Now, some emerging service providers are creating "high-speed channels" that connect directly to the core source, allowing for faster and cheaper stablecoin flows.

What sets these service providers apart is that they are directly connected to the source of stablecoins. For example, there are institutions that are among the few globally with the primary agency authority to mint dollar stablecoins directly from the USDC issuer. This means that large institutional users can mint and redeem significant amounts of USDC with source-level efficiency and cost.

At the same time, these institutions have also established strategic partnerships to seamlessly access the globally most extensive stablecoin liquidity network built by the issuer of USDT. Users no longer need to search for liquidity indirectly; they can directly reach the core liquidity source, significantly reducing slippage loss during the transaction process.

In terms of the safety and speed of fund flows, some institutions in the Asia-Pacific region have established unique banking infrastructures, while also having a same-name account system with several large international banks. This addresses the most pressing pain point for institutions—clients' funds flow directly into the same-name accounts that the institution holds at these banks, completely bypassing the risks that may arise from third-party custody, achieving a truly "zero intermediary" settlement.

These capabilities ultimately translate into the daily lives of real users. Whether they are traders, investment institutions, or family offices, they can safely and flexibly achieve capital flow through these services, significantly enhance efficiency, reduce costs, and maximize investment returns.

Conclusion

For stablecoins to truly enter the real world, they require the collaborative integration of compliant trading, underlying technology, and professional services. With the continuous efforts of various parties, a complete link is gradually being established, creating a bridge for digital assets to enter the real world. Only when stablecoins can genuinely serve global trade, cross-border payments, asset management, and value storage safely, efficiently, and without obstacles, can the new era of Web3 truly set sail.