As a blockchain developer in LA with 5 years in DeFi, I’ve watched stablecoins evolve from digital dollars to real-world value engines. This isn’t just about minting more tokens—it’s about who can build the smartest, most integrated applications. In this deep dive, I break down how regulatory shifts in Hong Kong and Singapore are pushing the industry toward 'scene-first' innovation—and why infrastructure neutrality is the new competitive edge.