Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin bill in the two weeks since it was passed, paving the way for the issuance of such assets in the city, discussions about the market and geopolitical...