CEO of Yuanbi Technology: The breakout of stablecoins cannot bypass compliance, and will cut into the business from cross-border transfer, virtual asset trading and other scenarios

In an interview with 21st Century Business Herald, Liu Yu, CEO of Yuanbi Technology, said that in the past year, Yuanbi Technology and the HKMA have discussed many regulatory aspects, and at the same time have done in-depth research on application scenarios and business strategies. Yuanbi Technology will cut into the first batch of stablecoin business from three application scenarios: cross-border trade and cross-border transfer, Hong Kong-licensed virtual asset exchanges, and Hong Kong's RWA (real-world asset tokenization). In addition, the Stablecoin Ordinance leaves room for multi-currency stablecoins. Liu Yu said that although Yuanbi has been deployed from the Hong Kong dollar, it hopes to issue stablecoins in other currencies in the future.
At the same time, Yuan Coin will also make some layout in the RWA field. Previously, in July last year, the Hong Kong Monetary Authority announced the list of the first three stablecoin issuers, including Yuan Coin Innovation Technology Co., Ltd. (a subsidiary of Yuan Coin Technology), JD.com Coin Chain Technology (Hong Kong) Co., Ltd., and a consortium composed of Standard Chartered (Hong Kong), Security Group, and Hong Kong Telecom.