Hong Kong Cyberport: Stablecoin and digital asset pilot projects have been launched

According to ChainCatcher, Dr. Zheng Songyan, CEO of Cyberport, said that with the entry into force of the Hong Kong Stablecoin Ordinance on August 1, Cyberport has gathered nearly 290 technology companies in the fields of blockchain, smart contracts, data auditing and network security to form a digital asset technical support network covering the mainland, Hong Kong and overseas, providing full-chain technical support for stablecoin and RWA (physical asset tokenization) businesses. In order to balance supervision and market vitality, Cyberport has launched a pilot project for stablecoins and digital assets, screening 9 cross-industry cases (covering finance, logistics, medical care, etc.) from more than 200 applications, and through end-to-end scenario verification (including issuance, retail, anti-money laundering and other links), creating a replicable industry template, and providing the government with technical difficulties and regulatory references. Zheng Songyan emphasized that the pilot aims to explore the "regulatory sandbox" model, which not only prevents risks but also promotes innovation, and helps Hong Kong become a digital asset technology hub. At present, Cyberport has attracted US data auditing companies, Zhejiang University blockchain teams and mainland virtual currency tracking companies to settle in. In the future, it will continue to collaborate with the government to build a healthy ecosystem and promote Hong Kong's global competitiveness in the Web3 field.