Source: International Business Times
Stablecoin excitement has gripped Hong Kong as the city prepares to launch a licensing system for the less volatile type of cryptocurrency AFP Stablecoin excitement has gripped Hong Kong as the city prepares to launch a licensing system for the less volatile type of cryptocurrency, but authorities warn against overplaying its future role in financial systems. The digital units have been touted as a cheaper, easier way to carry out monetary transactions -- and their popularity is soaring, with more than US$270 billion in circulation worldwide. Unlike the heady highs and lows of bitcoin, the value of most stablecoins is kept steady by being linked to an existing national currency -- mainly the dollar -- or a commodity like gold.
