According to Defillama data, as of January 29th, the total market value of stablecoins has reached 135.02 billion US dollars, an increase of 0.97% from last week. In addition, the circulation of USDT has exceeded 95.9 billion US dollars, accounting for 71.07% of the stablecoin market.
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The total market value of stablecoins reached US$135.02 billion, an increase of 0.97% in the past week
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Tan Yueheng, a member of the National Committee of the Chinese People's Political Consultative Conference and the Legislative Council, published an article entitled "Consolidating the Status of Financial Center and Sharing the Dividend of Deepening Reform". In it, he pointed out that in the field of digital finance, the SAR government must continue to develop digital finance and qualified virtual products, explore new beneficial financial formats, and promote the new productive forces of the financial industry. Hong Kong must promote the participation of financial technology companies in the stable coin sandbox mechanism, accelerate the issuance and trading of stable coins with the characteristics of matching linked exchange rate system, expand the testing scope and landing scenarios of digital RMB as a cross-border payment tool, and focus on developing products that are linked to virtual assets and underlying real assets, transforming art, real estate, equity, and carbon emissions into digital tokens through blockchain technology. -
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