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<a href="https://bitcoinworld.co.in/hong-kongs-onedegree-may-launch-its-stablecoin-soon-as-interest-increases/" title="Hong Kong’s OneDegree May Launch Its Stablecoin Soon As Interest Increases" rel="noopener noreferrer nofollow"></a>
OneDegree, a Hong Kong-based virtual insurance company, reported interest from over 100 project teams for stablecoin development.&nbsp;
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.
This uptick in interest 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 stablecoins.&nbsp;
<a href="https://finance.mingpao.com/fin/instantf/20231227/1703667328172/onedegree-%e6%8e%a5%e7%8d%b2%e9%80%be%e7%99%be%e5%80%8b%e9%a0%85%e7%9b%ae%e5%9c%98%e9%9a%8a%e6%9c%89%e8%88%88%e8%b6%a3%e7%99%bc%e5%b1%95%e7%a9%a9%e5%ae%9a%e5%b9%a3" rel="noopener noreferrer nofollow">According</a> to a local media publication, Mr. Kwok Yan-lun, co-founder of OneDegree, highlighted the significant attention the company has garnered in the context of stablecoin development.
Notably, several of these projects are exploring stablecoin applications and considering applying for a Virtual Asset Service Provider (VASP) license in Hong Kong.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/worldcoin-launches-5-orb-locations-in-singapore/" aria-label="“Worldcoin Launches 5 Orb Locations In Singapore” (Edit)" rel="noopener noreferrer nofollow">Worldcoin Launches 5 Orb Locations In Singapore</a>
Mr. Guo Yanlin, representing OneDegree, emphasized the pivotal role of stablecoins in the evolution of web3.&nbsp;
He elaborated on the expanding scope of stablecoin use cases and their growing acceptance in regulated markets.&nbsp;
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;
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.
The post <a href="https://bitcoinworld.co.in/hong-kongs-onedegree-may-launch-its-stablecoin-soon-as-interest-increases/" rel="noopener noreferrer nofollow">Hong Kong’s OneDegree May Launch Its Stablecoin Soon As Interest Increases</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Hong Kong’s OneDegree May Launch Its Stablecoin Soon As Interest Increases

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