In the Media

Stablecoins are usually digital currencies issued by private companies, pegged 1:1 to a fiat currency or the asset value of collateral. Currently, 99% of global stablecoins are pegged to the US dollar and US dollar-denominated assets. USDT and USDC dominate the market, accounting for the majority of the more than $220 billion in global stablecoin circulation, and Circle has already completed its public listing in the US stock market.

In an interview with Deutsche Welle (DW), Prof. Heiwai Tang, Associate Vice-President of HKU and Director of the Asia Global Institute, explained that mainland Chinese enterprises face a "go global or go bust" situation due to intense domestic competition and tariff pressure on their export businesses. He noted that while these enterprises possess strong competitive advantages and productivity, they must still adapt to local cultures, such as management and political cultures, when expanding overseas.