Gate News, March 17 — Citibank released an analysis report stating that, by referencing the experience of mainland Chinese payment institutions, the user balances within mainland Chinese payment institutions account for approximately 20% of China’s circulating cash, about 2.5% of demand and savings deposits, and roughly 0.8% of all deposits. Citibank estimates that the Hong Kong stablecoin market could reach a scale of $16 billion (approximately HKD 124.8 billion), with fluctuations of around $8 billion. The report indicates that if the total money supply continues to grow, combined with increased demand from overseas users for Hong Kong stablecoins or a surge in on-chain activity, this scale could further expand, benefiting issuers, trading platforms, and payment companies. Previously, it was reported that the Hong Kong Monetary Authority may announce the first batch of stablecoin issuance licenses this month.
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