Svmuu News Citigroup pointed out in an analysis report that, drawing on the experience of mainland payment institutions for reference, the user balances in mainland payment institutions are equivalent to approximately 20% of China's cash in circulation, about 2.5% of demand and savings deposits, and around 0.8% of total deposits. It is estimated that the Hong Kong stablecoin market size could reach $16 billion (approximately HK$124.8 billion), with a potential fluctuation of $8 billion. If the total money supply continues to grow, coupled with increased demand for Hong Kong stablecoins from overseas users or a surge in on-chain activities, this scale has further room for expansion. Issuers, trading platforms, and payment companies are all expected to benefit. Previously, it was reported that the Hong Kong Monetary Authority may announce the first batch of stablecoin issuer licenses this month. (Hong Kong Economic Journal)