[Citi Estimates Hong Kong Stablecoin Market Could Reach $16 Billion] Citi stated in an analysis report that, based on the experience of mainland payment institutions, the Hong Kong stablecoin market is estimated to reach $16 billion (approximately HKD 124.8 billion), with a fluctuation range of $8 billion. If the total money supply grows, demand from overseas users increases, or on-chain activity surges, this scale could further expand, benefiting issuers, trading platforms, and payment companies. It is reported that the Hong Kong Monetary Authority may announce the first batch of stablecoin issuer licenses this month.