TechFlow, June 24 — Bloomberg Intelligence published a report discussing the potential of Hong Kong's stablecoin market and its impact on foreign exchange markets. Analyst Alex Zhao stated that since any stablecoin pegged to the Hong Kong dollar would be backed by HKD cash or cash equivalents, such stablecoins would still be affected by the linked exchange rate between the Hong Kong dollar and the US dollar. Even if the stablecoin's value remains stable during any potential adjustment of the currency peg, the assets backing the stablecoin may require revaluation. Therefore, it is believed that in the future, Hong Kong stablecoins could potentially be linked to tangible assets such as real estate.
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