Insiders: Several Chinese-funded financial institutions in Hong Kong have been asked by their headquarters to explore RWA projects
ChainCatcher news, Tencent News published an article titled "The Surge of Stablecoins Boosts the Influx of Chinese Institutions into RWA in Hong Kong, Industry Insiders Call for Cooling Down," which points out that Hong Kong's financial sector is beginning to stratify. Foreign institutions are researching quant strategies, hedging, and IPOs, while Chinese institutions are starting to explore RWA. Chinese financial institutions in Hong Kong are eagerly trying out RWA. A head of a leading fund company in Hong Kong stated that many institutions have received requests from their domestic headquarters to explore business opportunities in RWA projects. Like most financial products launched in Hong Kong, these Chinese financial institutions require a large number of lawyers to participate in their exploration of RWA projects. This has led to an increase in business for some law firms in Hong Kong in the cryptocurrency sector, including King & Wood Mallesons and JunHe Law Offices.In addition, a head of a state-owned enterprise asset management company stationed in Hong Kong stated, "This wave is actually top down; the headquarters hopes that the institutions in Hong Kong will try to engage in RWA to prepare for the ecological development after the issuance of stablecoins."