Hong Kong dollar-pegged stablecoins, when allowed in Hong Kong, may secure their unique territory in the already saturated crypto market, Animoca Brands Chairman Yat Siu told The Block at the BUIDL Asia conference in Seoul on Thursday.

“The interesting thing different about the Hong Kong dollar versus most other currencies is that it’s pegged to the U.S. dollar,” Siu said in the interview. “Therefore, if you want to have another kind of regulated currency that, however, is non-American, but is yet tied to an American system as in the U.S. dollar, I think the Hong Kong dollar becomes a very interesting proxy.” 

Hong Kong stablecoins could find a pool of sizable, unique demand as the HKD is a U.S. dollar equivalent that is not the U.S. dollar and is outside the U.S. territory, Siu …