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Hong Kong digital asset insurance company OneDegree: More than 100 teams have expressed interest in developing stablecoins

Hong Kong digital asset insurance company OneDegree: More than 100 teams have expressed interest in developing stablecoins

CointimeCointime2023/12/28 01:44
By:Cointime

The Hong Kong Financial Affairs and Treasury Bureau and the Hong Kong Monetary Authority jointly issued a public consultation paper on stablecoins today. Guo Yanlin, co-founder of virtual insurance company OneDegree, said that he has received more than 100 project teams expressing interest in developing stablecoins. Use cases include payment, cross-border trade financing, equity and debt capital markets, decentralized finance (DeFi) and GameFi (Game Finance), and some projects are also interested in stablecoins and applying for a virtual asset service provider (VASP) license in Hong Kong.

OneDegree believes that with the significant increase in use cases and the acceptance of regulated stablecoins in mainstream markets, virtual asset exchanges, custody and asset management companies will record greater trading volume and fund flows. The upper limit of investor protection for warm wallets and hot wallets should be increased.

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