CoinMeta data: The total value of the crypto economy in the five major East Asian markets is approximately $1.2 trillion. During the period from the first quarter of 2024 to the second quarter of 2026, the number of P2P stablecoin wallets in China increased by 43 times. Despite crypto trading being banned in China, reports from Chainalysis indicate that China's crypto economy still reached at least $176.3 billion. Meanwhile, the crypto market in Hong Kong is valued at $192.2 billion, making it the most institutionalized market in the region. On April 10, 2026, the Hong Kong Monetary Authority issued the first batch of stablecoin issuance licenses to HSBC and Anchorpoint.