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The biggest opportunity for a Hong Kong stablecoin is probably an offshore RMB stablecoin 🥹
There are two major pain points of offshore RMB: difficulty in circulation and few investment channels
Thinking about China's foreign aid to those African countries, they all use offshore RMB stablecoins, and they have to collect them if they don't collect them, so don't those countries use them to buy RWA to earn interest?
Let them buy RWA assets in Hong Kong and the mainland, and what is even more amazing is that the offshore RMB has not yet left the banking system, and is still lying in the bank, absolutely
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