> For the complete documentation index, see [llms.txt](https://docs.matrix.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.matrix.io/event/exciting-news-from-our-cmto-eric-choy.md).

# EXCITING NEWS from our CMTO, Eric Choy! 🔥🔥🔥

Hello Matrixians! Hong Kong has been working hard to become the hub for Web3. Recently, the government has published the stablecoin ordinance, which will take effect from 1st of August. This is a big sign towards digital assets. And Matrix Foundation has been established in Hong Kong since day one, i.e. early of 2017. Unlike many other projects that have already diminished, Matrix AI has been working hard to deliver different products from Matrix 1.0 to Matrix 3.0. And with the landscape change about the policy, the economy, especially that I say to the stablecoin alternates taking effect, we do see this is a great opportunity for Matrix AI Network as a native local blockchain company. So we are brainstorming which direction we are heading towards. and I would like to seek your advice on this drop your comments. - CMTO, Eric Choy

<figure><img src="/files/ihvEurEhAvPbZkZGDoZG" alt=""><figcaption></figcaption></figure>


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