2026-01-02 02:29:50

#稳定币 Two key clues to watch:

**On-chain funding side**: The EquiLend investment essentially represents the official connection between the traditional finance 40 trillion asset pool and the tokenized market. Tokenet supports multi-collateral management and institutional-grade reporting, with plans to introduce compliant stablecoins as collateral—this means the use case for stablecoins is expanding from transaction settlement to financing collateral, requiring ongoing monitoring of USDC and USDT inflows within institutional lending networks.

**Market validation side**: Data from Hong Kong is more intuitive—virtual asset spot ETFs grew 33% year-over-year in Q3 to HKD 5.47 billion, but more importantly, the tokenized money market fund size surged 557% to HKD 5.48 billion. Increased retail acceptance indicates expanding demand for stablecoins.

Key indicators to monitor:
1. The proportion and growth rate of stablecoins as collateral in the Tokenet network
2. Inflows and outflows of stablecoins in institutional lending contract addresses
3. Changes in the allocation of compliant stablecoin products within tokenized funds in Hong Kong

The involvement of traditional finance in tokenization is not a hype cycle but an infrastructure development cycle. The role of stablecoins as underlying assets is being reinforced.

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