# Our CMTO Eric Choy explains

Hello, my fellow Matrixians It's Eric again. Good to see you. So the Financial Services and Treasury Bureau in Hong Kong released the second policy statement about the stablecoin. And on this topic, I would like to share some data about the stablecoin issues. So when we look around the world, the USDT takes about 65% of the market share and USDC takes about 25%. So, these two altogether takes about 90%, and the remaining 10% goes to other stable coins. When you look from this angle, can you think of the logic that why the Hong Kong government wish to push forward the stable coin issue in Hong Kong? - Eric Choy, CMTO

<figure><img src="/files/xOmqv2u93N6fyiDuL8gI" alt=""><figcaption></figcaption></figure>


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