Chinese short video platform Douyin now counts about 40 per cent of Hong Kong’s 7.5 million residents as users, about five years after social media giant ByteDance suspended the operation of hit global app TikTok in the city. The number of monthly active users (MAUs) of Douyin in Hong Kong has already surpassed 3 million,…
Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…
Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…