A surge in Hong Kong interest rates is upending what was the world’s best carry trade earlier this year, after local ...

Interest rates in Hong Kong have tended to move in lockstep with the United States, keeping the Hong Kong dollar - which trades between 7.75 and 7.85 per U.S. dollar - relatively stable.

Hong Kong passes stablecoin bill, one step closer to issuance By Summer Zhen May 21, 20254:27 AM PDTUpdated May 21, 2025 ...

One of the sandbox participants, Jingdong Coinlink Technology, subsequently announced plans to issue a stablecoin pegged to the Hong Kong dollar on a 1:1 ratio.

The Hong Kong dollar's peg to the US currency is seen as a unique advantage for the city, as the majority of stablecoin trading activity happens through cryptocurrencies backed by the US dollar.

Once one of Asia’s most high-flying cities, Hong Kong is now grappling with a deep pessimism. The stock market is in the tank, home values have tumbled and emigration is fueling a brain drain.