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 <p class="is-style-lead">OneDegree, a Hong Kong-based virtual insurance company, reported <a rel="noopener noreferrer nofollow" title="interest" href="https://thebittimes.com/tag/interest.html">interest</a> from over 100 project teams for <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> <a rel="noopener noreferrer nofollow" title="development" href="https://thebittimes.com/tag/development.html">development</a>.&nbsp;</p>
 <p>The enthusiasm spans a variety of applications, including payments, international trade finance, the equity and debt capital markets, and emerging sectors like defi and gamefi.</p>
 <p>This uptick in <a rel="noopener noreferrer nofollow" title="interest" href="https://thebittimes.com/tag/interest.html">interest</a> coincides with the release of a public consultation paper by Hong Kong’s Financial Services, the Treasury Bureau, and the Hong Kong Monetary Authority focusing on <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s. According to a local media publication, Mr. Kwok Yan-lun, co-founder of OneDegree, highlighted the <a rel="noopener noreferrer nofollow" title="significant" href="https://thebittimes.com/tag/significant.html">significant</a> attention the company has garnered in the context of <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> <a rel="noopener noreferrer nofollow" title="development" href="https://thebittimes.com/tag/development.html">development</a>. Notably, several of these projects are exploring <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> applications and considering applying for a Virtual Asset Service Provider (VASP) license in Hong Kong.</p>
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 <p>Mr. Guo Yanlin, representing OneDegree, emphasized the pivotal role of <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s in the evolution of web3. He elaborated on the expanding scope of <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> use cases and their growing acceptance in regulated markets. Yanlin also predicted that this trend will likely lead to increased trading volumes and capital flows for virtual asset exchanges, custodians, and asset managers.&nbsp;</p>
 <p>In light of these developments, OneDegree is advocating for an increase in the upper limit of investor protection for both warm and hot wallets, anticipating a more robust and secure future for digital asset transactions.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-s-onedegree-sees-significant-stablecoin-development-interest-tbt74928.html">https://thebittimes.com/hong-kong-s-onedegree-sees-significant-stablecoin-development-interest-tbt74928.html</a></p>

Hong Kong’s OneDegree sees significant stablecoin development interest

TheBitTimes

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