Wu Jiezhang, Huang Junlang, Zhu Haokang Space sharing: Policies, entrepreneurship, and new opportunities in RWA after the stablecoin bill is passed.

"Stablecoin Regulation Draft Passed! How Will Compliance Reshape the Market Landscape?"

On May 21, 2025, Hong Kong Legislative Corporation formally 通过稳定币法案,标志着Hong Kong Web3及虚拟资产发展迈入新阶段。 当晚20:30,由Web3Labs、MetaEra和Techub News 联合主办的Space活动,围绕主题《稳定币条例draft 通过! 合规化将如何reshaping 市场型? 》Exhibition 开deeply 讨论。 活动特邀三嘉宾——全国政协委员、Hong Kong legislative 会Web3及虚拟资产发展事宜小组委员会主席吴杰庄,Web3Labs CEO 黄俊瑯,以及亚洲RWA 工作组创始人Zhu Haokang,分别从策略、创业和RWA(实体资产代币化)视角共享了深刻见解。

Wu Jiezhang: The stablecoin bill lays the foundation, and Hong Kong needs to seize global competitive opportunities.

吴杰庄首先共享了Hong Kong 虚拟资产发展的愿景与路线图。 He pointed out that Hong Kong 将在第二份虚拟资产策略白皮书中进一步明确发展方向,重点解决两大问题:首先提高市场流动性,当前Hong Kong 虚拟资产市场因监管过严、未能"拆墙松绑"而流动性较低,需通过策略调整attracted more trading 活动; 是不是推动虚拟经济与实体经济结合,例如利用稳定币在贸易结算中extended 应用场景,促进市场发展。

He emphasized that the passage of the stablecoin bill is a milestone in Hong Kong's Web3 development, and institutions are expected to apply for compliance issuance licenses from the Monetary Authority by the end of 2025. Wu Jiezhang suggested future optimization of the law, such as allowing stablecoin holders to earn interest dividends through investments to enhance attractiveness. At the same time, he called on the Hong Kong government to actively promote compliant stablecoins, especially in trade partner countries such as those in the "Belt and Road" initiative, the Middle East, Southeast Asia, and Africa, to enhance the circulation value and application scenarios of stablecoins.

Wu Jiezhuang also mentioned that the members of parliament generally support leveraging Hong Kong's advantages as an offshore Renminbi center to attempt to issue offshore Renminbi stablecoins, in order to expand the application scenarios of the Renminbi and enhance market competitiveness. In terms of the legislative process, the bill was first read in December 2024 and underwent 5 months of review with 6 committee meetings, with the content exceeding 200 pages, and was ultimately passed unanimously today. The discussion on site was heated, with nearly 20 members of parliament speaking for about 3 hours, and the members hope that the government will accelerate the issuance of guidelines and licenses to launch the first compliant stablecoin as soon as possible.

Wu Jiezhang concluded that the stablecoin legislation lays an important foundation for the development of virtual assets in Hong Kong. In the future, measures such as enhancing liquidity, integrating with the real economy, promoting international applications, and exploring offshore RMB stablecoins are needed to strengthen Hong Kong's position in the global Web3 space.

Huang Junlong: Web3 entrepreneurs should seize the Compliance dividend and expand application scenarios.

Web3Labs CEO Huang Junlang shared insights on the theme "How Web3 Entrepreneurs Can Capture Compliance Dividends in the New Era of Compliance" from the perspective of entrepreneurship and ecology. He believes that the passage of the Hong Kong stablecoin bill is the first step in the Web3 field, and entrepreneurs should seize the compliance dividends, expand application scenarios, and deepen ecological cooperation.

黄俊瑯present,合规稳定币应重点在付款和跨境贸易领域land。 在支付方面,Hong Kong and 亚洲地区的稳定币支付场景land,不仅能提升实际应用,还能Science Popularization Web3和区块链技术; 在跨境贸易方面,利用香港作为中国第二大经济体的贸易枢纽地位,稳定币可用于结算,增强Hong Kong 经济vitality 并推动普及。 此外,稳定币法案将促成更多公链与发行方的合作,例如在不同公链上发行稳定币,成为公链世界布局的重要一步,Web3Labs也也将继续推动此类合作。

He also mentioned that stablecoins will facilitate the development of RWA, especially in the RWA sandbox program launched by the Hong Kong SAR government, which involves industries such as finance and energy. Stablecoins will become an important medium for the tokenization of physical assets. Huang Junlong emphasized that Hong Kong's policies are interconnected, providing a good environment for the development of Web3. He called on exchanges, public chains, media, and other ecosystem partners to join in building stablecoin application scenarios, and Web3Labs is also willing to work together to promote this process.

Huang Junlang summarized that entrepreneurs should seize the Compliance dividend, focus on expanding payment and cross-border trade scenarios, deepen public chain cooperation, promote RWA development, and enhance Hong Kong's position in the global Web3 market through ecosystem co-construction.

Zhu Haokang: Stablecoin regulations support RWA development and promote the internationalization of the Renminbi.

Zhu Haokang, the founder of the Asian RWA working group, shared insights on "The Impact of Stablecoin Regulations on RWA." He pointed out that the passage of the stablecoin legislation by the Hong Kong Legislative Council is an important milestone, coinciding with the U.S. Senate's approval of the "Guinness Stablecoin Bill Draft" yesterday. Hong Kong has unique advantages in the stablecoin ecosystem market, especially in enhancing the efficiency of financial market settlements.

Zhu Haokang mentioned that the products (such as the central bank's proxy deposits) can improve the efficiency of the calculation. 华夏基金作为唯一参与HKF局所有沙盒项目的资产管理公司,已试验代币化银行存款和中心数字货币结算应用。 On February 28th of the year,华夏基金发行了亚洲頭个retail 代币化港币货币Fund,最日发行规模超美国贝莱德同类产品,显示投资者对代币化产品的兴趣。 此举为香港稳定币生态提前布局,未来将通过港币货币基金支持链上稳定币生态,提供更好收益。

He also emphasized Hong Kong's potential as a global offshore renminbi center. Currently, the scale of renminbi assets is insufficient, and trading companies often convert renminbi into US dollars for investment. Huaxia Hong Kong offers a comprehensive range of renminbi products (money market funds, bond funds, Bitcoin/Ethereum ETF renminbi counters) and plans to launch more tokenized products for renminbi settlement, providing more investment scenarios for the internationalization of renminbi and the issuance of offshore renminbi stablecoins.

Zhu Haokang expressed anticipation for the passage of the bill, calling for more Compliance crypto asset practitioners, technicians, investors, and international participants to join the ecological construction of Hong Kong. He summarized that the stablecoin regulations will significantly promote the development of Hong Kong's RWA sector by enhancing settlement efficiency, supporting the development of tokenized products, and driving the issuance of offshore RMB stablecoins, while also creating more application scenarios for the internationalization of the RMB.

本Space活动通过三嘉宾的共享,从策略、创业和RWA视角全面探讨了香港稳定币法案通过后的市场机遇。 吴杰庄强调策略优化与国际推广,黄俊瑯聚焦创业者如何抓住合规红利extended 应用场景,朱浩康则突出稳定币对RWA及人民币国际化的推动作用。 三嘉宾一致认为,香港作为亚洲Web3桥头堡,应抓住世界竞争机遇,通过生态建和策略land,巩固它在虚拟资产领域的领先地位。