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![kautiousCo Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1549498377213054976.png) kautious [@kautiousCo](/creator/twitter/kautiousCo) on x 1080 followers
Created: 2025-07-17 00:56:55 UTC

Cantonese cliff notes for the week:

• Beijing’s muscle just met Web3: CMB International is the 1st mainland broker SFC-licensed to trade BTC, ETH & stables – shares already up 200%.  
• 40-plus heavyweights (Ant, Ping An, the usual SOE suspects) now sprint for Hong Kong’s Aug-1 stablecoin licences while HSBC beta-tests e-HKD on Arbitrum. Fireblocks says stablecoins = XX % of its volume.   
• Korea & Japan fast-follow with KRW/JPY coins before deposits bolt to USDT – Asia’s becoming the stablecoin standards body by default.  
• Macro backdrop? HKMA yanked HK$9.4 bn liquidity, overnight HIBOR hit 5-month highs, New World just duct-taped an HK$88 bn refi, and analysts flag HK$220 bn in small-developer risk still on bank books.  
• Yet yield hunters keep piling into HK-listed Chinese banks, and CertiK, Goldman, Morgan Stanley et al are back on the tarmac hunting tokenisation mandates.

Translation for the pro desk: property pain ≠ capital exodus; it’s rotating into regulated digital rails. Ignore the Kowloon crypto on-ramp at your own P&L.


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945648876406362199/c:line.svg)

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[Post Link](https://x.com/kautiousCo/status/1945648876406362199)