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Citigroup: Hong Kong Stablecoin Market Expected to Reach $16 Billion, Bullish on Zhongan and Alibaba
Summary: According to reports from Hong Kong Economic Times, Citigroup's latest research report indicates that the Hong Kong stablecoin market could reach $16 billion, with expectations that stablecoins will increase demand for short-term high-quality liquid assets, potentially compressing short-term yields and promoting the development of the local fixed income market. Within the stablecoin value chain, Citigroup ...
According to reports from Hong Kong Economic Times, Citigroup's latest research report indicates that the Hong Kong stablecoin market could reach $16 billion, with expectations that stablecoins will increase demand for short-term high-quality liquid assets, potentially compressing short-term yields and promoting the development of the local fixed income market.
Within the stablecoin value chain, Citigroup favors Zhongan Online and Alibaba for their potential involvement in issuance, and sees Tiger Brokers as a distributor. Citigroup rates Zhongan Online and Alibaba as buy, with target prices of 24 yuan and 144 yuan respectively.
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Link: Citigroup: Hong Kong Stablecoin Market Expected to Reach $16 Billion, Bullish on Zhongan and Alibaba [Copy]
