Hong Kong's "Regulatory Ordinance for Stablecoin Issuers" will officially take effect on August 1, 2025. As the world's first specialized regulatory framework for fiat-backed stablecoins, its impact on cross-border payments is profound and multi-dimensional. Combining the latest policies and market trends, its core impacts can be summarized as follows: ⚡ 1. Revolutionary improvement in cross-border payment efficiency, significantly reducing time and cost. Traditional cross-border payments (e.g., SWIFT system) take an average of 2.3 days, while compliant stablecoin-based settlement systems (e.g., the HKD stablecoin supported by the XBIT platform) can shorten the process to 27 seconds...