Bridge Founder Mentions Tokenization of Local Currencies in Asia
Zach Abrams, the founder of Bridge, mentioned the tokenization of local currencies as the next demand following dollar stablecoins in Asia. He stated that cross-border payment and settlement rails could be expanded to local currencies. Abrams explained that there is increasing demand for stablecoin infrastructure outside the U.S., with initial customers requesting payment infrastructure between the U.S. and Colombia, as well as payment functionalities between Venezuela and the Philippines. He remarked, "We are still in the early stages," adding that "in a world where more infrastructure is tokenized, tokenized local currencies will become very important." The official API documentation of Bridge lists the U.S. dollar, euro, Mexican peso, Brazilian real, British pound, and Colombian peso as supported fiat currencies, but does not include local currencies from Asia. Hong Kong is set to implement a stablecoin ordinance on August 1, 2025, and the Hong Kong Monetary Authority announced that it would grant issuer licenses to two institutions in April 2026. In Singapore, digital payment token service providers are registered, with 37 major payment institutions designated as digital payment token service providers. This statement focuses more on the localization of payment rails than on the launch of stablecoins.
-- Price
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