Hong Kong's Chinese-funded institutions are actively exploring RWA for the layout of the stablecoin ecosystem.

[Bit推] Tencent News published an article titled "The Stablecoin Boom Drives Chinese Institutions in Hong Kong to Flood into RWA, Industry Insiders Call for a Cool Down," which points out that Hong Kong's financial circle is beginning to stratify, with foreign institutions researching quantification, hedging, and IPOs, while Chinese institutions are starting to study RWA. Chinese financial institutions in Hong Kong are actively trying out RWA. A head of a top fund company in Hong Kong stated that many institutions have received requests from their domestic headquarters to explore business opportunities in RWA projects during this period. Like most financial products launched in Hong Kong, these Chinese financial institutions' exploration of RWA projects requires a large number of lawyers involved, which has also led to an increase in business for some law firms in Hong Kong within the crypto world zone, including King & Wood Mallesons and JunHe Law Offices.

In addition, a head of asset management from a state-owned enterprise stationed in Hong Kong stated, "This wave is actually top down, as the headquarters hopes that the institutions stationed in Hong Kong will try to engage in RWA to prepare for the ecological development after the issuance of stablecoins."