Hong Kong positioned as stablecoin bridge for mainland Chinese firms: fintech unicorn

Hong Kong could serve as “a kind of initial validation, initial test” for Chinese companies exploring stablecoin use in cross-border commerce, said Joao Del Valle, CEO and co-founder of global digital payment services provider Ebanx, in a recent interview with the Post.

Hong Kong’s new stablecoin regulations are “transformational”, Del Valle added. “It’s kind of an entry into [mainland] China. I think that is the most attractive aspect of it”, though “the adoption [of stablecoins] might be gradual”.

“Hong Kong for us … [is] an exploration and we are positive that it can drive some business in the future,” Del Valle said. The company expected “some significant growth next year in stablecoin use as a payment method [globally]” since international transfers took only seconds, compared to one to two days for traditional wire transfers, he said.