President Donald Trump’s support for US dollar-pegged cryptocurrencies has injected new energy into the development of stablecoins in Asia, with markets rapidly updating their regulations to keep pace. Several countries, including South Korea, Hong Kong, Malaysia, Thailand, and the Philippines, are now actively exploring the adoption of stablecoins linked to their own currencies.
The surge in Asian stablecoin initiatives comes as authorities across the region grapple with concerns over capital outflows and the potential risks associated with these digital assets. As a result, governments are working to establish clear guidelines and frameworks for the development and use of stablecoins in their territories.
With Trump’s administration taking a more active role in promoting dollar-pegged cryptocurrencies, Asian financial hubs are racing to stay ahead of the curve. The rapid evolution of stablecoin regulations in these markets underscores the growing importance of this digital asset class in shaping the region’s financial landscape.
Source: https://www.bloomberg.com/news/articles/2025-08-01/trump-momentum-drives-stablecoin-urgency-in-asian-financial-hubs