Core Viewpoint - Hong Kong is among the first regions to establish a clear licensing system for Virtual Asset Trading Platforms (VATP), with 10 institutions already licensed, including HashKey Exchange and OSL [1] Group 1: Stablecoin and Financial Services - Stablecoins can enhance the accessibility of financial services in underdeveloped regions, which is evident in Africa's significant usage of USD stablecoins [1] - The traditional "bank + Swift" model in cross-border payments may face disruption from stablecoins, prompting banks to explore new roles and service methods [1][4] Group 2: Role of Virtual Currency Exchanges - Virtual currency exchanges can be categorized into offshore exchanges, which handle digital native assets, and onshore exchanges, which facilitate connections with banking systems [2] - HashKey Exchange operates as a compliant onshore exchange, adhering to KYC and anti-money laundering measures while also engaging in tokenized securities issuance [2] Group 3: Stablecoin Ecosystem - The stablecoin ecosystem includes issuers, reserve custodians, payment service providers, and cross-border trade enterprises, with exchanges acting as a bridge between the crypto and traditional financial worlds [1][2] Group 4: Cross-Border E-commerce and Stablecoins - Cross-border e-commerce businesses can legally convert USDT into USD or HKD through Hong Kong's framework, addressing stablecoin conversion issues while complying with regulations [3] Group 5: Future of Traditional Payment Systems - The global traditional financial market's transaction volume is estimated at $300-350 trillion, and if stablecoins capture 30%-40% of this market, it could disrupt traditional payment systems [4] - Traditional payment systems like Swift need to adapt to the evolving payment landscape, as the transition may take over a decade [4] Group 6: Central Bank Digital Currency (CBDC) and Stablecoins - The People's Bank of China has begun discussing stablecoins, suggesting a phased approach to implementation, starting with Hong Kong as a testing ground for offshore RMB stablecoins [5] - A dual-layer structure could be developed where CBDC serves as wholesale digital currency and stablecoins operate in retail and cross-border payments, leveraging the strengths of both [5]

Core Viewpoint - The U.S. government's ultimatum to negotiate trade agreements has led to a significant shift in global capital towards decentralized trading platforms like XBIT, highlighting a growing interest in digital assets amidst traditional market volatility [1][3]. Group 1: Trade Negotiations and Market Reactions - The White House has requested countries such as the EU, Japan, and India to submit their "best trade offers" by June 4, aiming to expedite negotiations before a July deadline [1]. - Despite the U.S. government's trade threats, the cryptocurrency market has shown resilience, with investors seeking secure virtual currency trading applications [1][3]. - The uncertainty surrounding trade agreements has accelerated capital flow into the crypto sector, with XBIT reporting a 47% increase in trading volume over the past week, particularly in cross-border trade transactions [5]. Group 2: XBIT's Technological Advantages - XBIT's decentralized exchange platform utilizes blockchain technology and smart contracts for peer-to-peer trading, eliminating data breach risks associated with centralized platforms [1][3]. - The platform supports direct exchanges between major cryptocurrencies and national digital currencies through cross-chain protocols, allowing for customized smart contracts for specific trade scenarios [3]. - XBIT employs a multi-signature wallet and distributed node verification to ensure asset security, even in the event of node attacks [3]. Group 3: Economic Sovereignty and User Empowerment - XBIT provides users with an "economic passport," enabling value transfer without reliance on any national credit, thus redefining economic sovereignty [5]. - The platform's community governance model allows users to participate in rule-making, contrasting sharply with unilateral actions by the U.S. government [5].

Key Points - The current spot prices for platinum and palladium show a slight decrease in platinum by 0.20% to 1062.950 and an increase in palladium by 0.21% to 987.250 [2] - Gold prices on COMEX decreased by 0.20% to 3399.500, while silver prices fell by 1.46% to 34.420 [2] - In the foreign exchange market, the euro to dollar exchange rate decreased by 0.12% to 1.143, while the pound to dollar rate fell by 0.11% to 1.353 [3] - The dollar to yen exchange rate increased by 0.27% to 143.074, while the Australian dollar to dollar rate decreased by 0.28% to 0.648 [3] - Bitcoin saw an increase of 0.36% to 106232.610, while Ethereum rose by 1.22% to 2639.290 [4] - The yield on the US 2-year Treasury bond decreased by 0.10% to 3.941, while the 10-year Treasury bond yield fell by 0.20% to 4.452 [6][7] - The yield on the German 10-year Treasury bond increased by 0.58% to 2.522, while the French 10-year bond yield rose by 0.92% to 3.194 [7]