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Hong Kong Explores Building RWA Tokenization Ecosystem and Stablecoin Policy

According to Wang Yang, Vice President of Hong Kong University of Science and Technology and Chief Scientific Advisor of Hong Kong Web3.0 Association, and Zhu Haokang, a Ph.D. student in Financial Technology at Hong Kong Polytechnic University and a member of Hong Kong Web3.0 Association's RWA and Stablecoin Working Group, Hong Kong needs to focus more on building a vibrant ecosystem to ensure that licensed institutions have viable business plans. Although regulation helps maintain market order, the current licensing system is a burden for virtual asset companies to some extent.

Therefore, it is recommended that Hong Kong focus on the deep integration of virtual and real-world assets, based on the Hong Kong dollar stablecoin, to build a strong Web3 ecosystem based on real-world assets (RWA). Tokenization of RWA, the conversion of physical or intangible assets into digital tokens, is considered one of the trends in the future development of Web3. 

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