Citigroup: Hong Kong's stablecoin market could reach $16 billion with room for growth.

According to an analysis report by Odaily, based on the experience of mainland payment institutions, the user balances of these institutions are equivalent to approximately 20% of China's circulating cash, 2.5% of demand and savings deposits, and 0.8% of total deposits. The report projects the Hong Kong stablecoin market size to reach US$16 billion (approximately HK$124.8 billion), with fluctuations of US$8 billion. If the total money supply continues to grow, coupled with increased demand for Hong Kong stablecoins from overseas users, or a surge in on-chain activity, this size could further increase, benefiting issuers, trading platforms, and payment companies. Previous reports indicated that the Hong Kong Monetary Authority may announce the first batch of stablecoin issuer licenses this month. (Hong Kong Economic Journal)