Wang Yang, vice president of Hong Kong University of Science and Technology and chief scientist of Hong Kong Web3.0 Association, wrote an article "Issuing Hong Kong dollar stablecoins to build a new ecosystem of Web3.0", which pointed out that at this stage, the re-issuance of US dollar stablecoins in Hong Kong is not of great significance. The penetration rate of US dollar stablecoins in the crypto market is now very high and the market structure is relatively stable. The leading position of USDT and USDC is difficult to be challenged in the short term. Looking at the current development direction of Hong Kong virtual assets and Web3.0, RWA may be the most suitable area for Hong Kong dollar stablecoins to The vast majority of RWA transactions in Hong Kong will be completed through the compliance Hong Kong dollar stablecoin as a carrier, and the connection and interoperability between the stablecoin and traditional finance will be completed through the stablecoin. Without the compliance Hong Kong dollar stablecoin, there will be huge challenges in the convenience and security of Hong Kong's RWA practice. Therefore, the introduction of the stablecoin regulatory framework may lay the foundation for the innovative development of Hong Kong's RWA ecosystem, and with the prosperity of the RWA ecosystem, the role and value of Hong Kong dollar stablecoins as a bridge for Hong Kong's Web3.0 external connection will become more prominent.