Binance founder Changpeng Zhao stated at Bitcoin Asia 2026 in Hong Kong that to maintain its status as a financial center in Asia, Hong Kong should not only rely on the Hong Kong Stock Exchange but should continuously experiment with digital assets and financial innovations.

Bitcoin Asia 2026 is being held at the Hong Kong Convention and Exhibition Centre from August 27 to 28. CZ mentioned that Hong Kong's policy thinking is relatively open and has the conditions to serve as a "sandbox" for China to explore digital currencies and financial innovations; however, he did not provide specific policy recommendations regarding Hong Kong's licensing system, exchange access, token issuance rules, or RWA regulatory provisions.

CZ identified the tokenization of RWAs as a key direction, believing that asset on-chain can break through traditional trading time zones and cross-border limitations, allowing global investors to access markets that were previously less liquid. He specifically noted that Asian investors face channel and time friction when investing in U.S. stocks, and if stocks and other assets are tokenized and enter crypto platforms, users may first gain exposure to on-chain assets before extending to cryptocurrencies like Bitcoin.

He believes that the current key constraint in Hong Kong is not a complete lack of regulation, but rather the formation of extremes in certain areas of "no regulation" or "over-regulation"; the industry needs to establish an operable middle ground between risk control and innovation space. The Hong Kong Monetary Authority has launched a stablecoin issuer sandbox in 2024 to gather regulatory feedback on payment, settlement, reserve management, and risk control models, but participation in the sandbox does not equate to approval for stablecoin issuance or public fundraising.

In a global market comparison, CZ stated that the UAE is leading in digital asset regulation, the U.S. has made significant progress in stablecoin and trading platform rules, Japan has a positive attitude, Hong Kong is progressing rapidly, while Singapore is more conservative. This reflects his personal regulatory judgment at the event, rather than a unified quantitative ranking of rules, enforcement intensity, or the number of licenses across jurisdictions.

CZ expects that the combination of AI and cryptocurrencies will first manifest in stablecoin settlements: in the future, a large number of AI agents will need payment tools that are programmable, cross-border, and available 24/7 for tasks like procurement, sales, negotiations, and transactions, with stablecoins likely to be adopted first, followed by gradual integration with Bitcoin and other public chain assets. He mentioned that he has discussed token issuance with several leading AI companies and noted that the funding cost for building a 1GW data center could reach $30 billion to $50 billion, with potential models including granting token holders future rights to computing power or revenue rights.

In terms of market mechanisms, RWAs and stablecoins attract brokers, custodians, issuers, market makers, and cross-border funds into crypto infrastructure by moving the holding, payment, clearing, and trading of real assets on-chain; if Hong Kong expands compliant issuance and secondary circulation space, the beneficiaries will be platforms with licensing, custody, auditing, KYC, clearing, and liquidity capabilities. Tokenization reduces trading time and distribution boundaries but does not automatically eliminate asset valuation, issuer credit, investor suitability, and cross-border securities law risks; during the regulatory transition period, liquidity will prioritize stablecoins and high-quality asset tokens that are transparent in reserves, have clear redemption paths, and allow institutional participation, while projects with low liquidity or unclear rights definitions will face higher discounts.

Source: Public Information