RWA Working Group Activities: Hong Kong Stable Coin Application Case Study Seminar

On January 4, 2024, the RWA Working Group and Yuanbi Technology co-hosted the Hong Kong Stable Coin Application Case Seminar. We are honored to have a number of industry elites, including Mr. Bai Haifeng, Managing Director of CMB International Asset Management, Mr. Ouyang Jinyan of Yuanbi Technology, Ms. Lou Yubao of Harvest Digital Asset International and Mr. Shi Zhuojun of China Asset Management (Hong Kong). We would like to thank Ms. Qiao Zheyuan, Partner of JunHe Law Offices, and Yu Jianing, President of Uweb, for their wonderful sharing on Stable CoinCompliance and innovation. Special thanks to the co-organisers: Meta Era, Techub News, PANews, Hamsa and PolyU’s digital asset think tank DATT.

The seminar began with a welcome speech by Mr. Chen Zexin, Executive Vice President and Head of Commercial & Partnerships of Yuanbi Technology, and introduced the main business and development plans of Yuanbi Technology. Then, Mr. Zhu Haokang, the initiator and secretary general of the RWA working group, discussed the first theme of the seminar: “The synergistic advantages of Stable Coin and asset Token integration and the innovative potential and challenges of asset management” with the roundtable guests.

The guests shared that the synergies between stable coins and asset tokens are mainly reflected in mutual promotion and enhanced benefits. By using Stable Coin as an intermediary mechanism, we can not only improve the Liquidity and value stability of assets, thereby revolutionizing the asset management model, but also significantly drop the friction costs of transactions, accelerate the asset management and transaction process, and create greater financial value. This integration has the potential to revolutionize asset management and provide faster trading and more efficient market participation. However, this integration also faces challenges such as regulatory compliance, market liquidity, and technology security, requiring the adoption of best practices and technology solutions, such as blockchain and smart contracts, to ensure the security and transparency of assets. In addition, the integration of stable coins and asset tokens is expected to have a profound impact on financial markets, providing investors with more diversified investment options and strategies, while also introducing new risk management methods.

Subsequently, Zhu Haokang, Secretary General of the RWA Working Group, and the guests discussed the second topic: “How Stable Coins Can Optimize the Payment System and Transform the Impact on International Trade and Cross-border Payments”.

Panelists said that Stable Coin optimizes the payment system by providing faster transaction speeds, lower costs and wider acceptance, especially in terms of 24/7 instant payments and simplified multi-currency management. This has had a profound impact on international trade, with stable coins greatly simplifying and accelerating cross-border transactions, reducing intermediaries, and dropping costs and time delays. As the technology matures and the regulatory environment improves, Stable Coins are expected to become the preferred choice for global cross-border payments, addressing traditional issues such as high transfer fees and slow processing speeds. Exchange and liquidity management are key to implementation, requiring adequate reserves and transparency mechanisms, as well as cooperation with traditional financial institutions, especially asset managers. The popularity of stable coins has had a profound impact on the global payment and financial systems, improving payment efficiency, dropping clearing costs, and driving financial inclusion. However, this also raises financial stability risks that need to be addressed.

At the end of the seminar, the panelists expressed their appreciation for the continuous improvement of Hong Kong’s regulation in the field of digital assets, which is an important step to promote Stable Coin and promote its widespread adoption.

The RWA Working Group is committed to advancing in this area and plans to host more networking and discussion events. We look forward to working with more professionals and entrepreneurs to discuss and promote the development of stable coins and asset tokens in the RWA field. Thanks again to all participants for their support and contributions, we believe that by brainstorming and working together, we can create a bright future for the RWA industry.

Madam president:

Prof. Yang Wang, Chairman of RWA Working Group, Vice President (University Development) of the Hong Kong University of Science and Technology, Chief Scientist of the Hong Kong Web3.0 Association. Prof Wong joined HKUST in 2014 as Head of the Department of Mathematics and was promoted to Dean of the Faculty of Science in 2016. Professor Wong is an internationally renowned scholar with a wide range of research interests, having published more than 100 research papers in both pure and interdisciplinary mathematics, many of which have been published in leading scientific journals. During his tenure as Dean of the Faculty of Science and Head of the Department of Mathematics, Professor Wong established the Big Data Biointelligence Laboratory at the Hong Kong University of Science and Technology (HKUST) and launched the popular Master of Science in Big Data Technology. Professor Wang received his B.A. in Mathematics from the University of Science and Technology of China in 1983 and his Ph.D. from Harvard University in 1990. He began his academic career at Georgia Institute of Technology in 1989 and joined Michigan State University in 2007 as Chair and Professor of Mathematics. He also served as the Program Director of the National Science Foundation from 2006 to 2007.

Secretary:

Thomas, Founder and Secretary-General of RWA Working Group, Fund Investor, Former Executive Director of Goldman Sachs Hong Kong Securities Department, Deputy Secretary-General of Jiangsu Youth Federation, PhD student in Fintech at The Hong Kong Polytechnic University, and founder of AMTD Fintech Center - Digital Asset Think Tank of the School of Business Administration of The Hong Kong Polytechnic University and served as a visiting scholar. During his tenure at Goldman Sachs, Mr. Zhu participated in the financing and listing of more than 100 Chinese enterprises, including Alibaba, Pinduoduo, Xiaomi, Meituan, iQiyi, etc. Mr. Zhu has been researching and investing in Internet, Web3, Blockchain related technologies and enterprises for a long time, and has developed Compliance Asset Token Products with many large Financial Institutions in Hong Kong. Mr. Chu was appointed as an advisor to the Hong Kong Cyberport Innovation and Technology Incubation Fund, and actively advises on the CBDC projects and asset Token policies of the Central Bank of Hong Kong and Singapore.

Goal:

The RWA Working Group is a cross-industry autonomous organization dedicated to promoting the ecosystem of Real World Assets (RWAs) such as security Tokens and Stable Coins in Asia. Our goal is to promote the healthy compliance development of the Web 3.0 industry by bringing together all parties in the industry to promote the integration of RWA in Asia and the world.

Welcome to contact us to jointly promote the development of the RWA industry

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