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One platform for global traditional assets
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Against the backdrop of the booming global Crypto Assets market, Hong Kong, as an Asian financial center, was originally expected to lead the wave of innovation in the stablecoin and RWA (Real World Assets) sectors. However, a sudden market cooling is unfolding. According to reliable sources, at least four Chinese-backed Financial Institutions, including CICC, have recently withdrawn their applications for Hong Kong stablecoin licenses or postponed related attempts in the RWA track, marking the arrival of the first exits in this highly anticipated financial innovation field.