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Hong Kong Financial Secretary Paul Chan: Limited Stablecoin Licenses to be Issued in First Phase, Financial Asset Tokenization to Expand to ETFs
Summary: In an interview with Cable News, Hong Kong Financial Secretary Paul Chan revealed that only a small number of stablecoin licenses will be issued in the first phase. While there are no restrictions on pegged currencies in the legislation, discussions with relevant institutions may be necessary if other regional currencies are involved. Chan emphasized the ...
In an interview with Cable News, Hong Kong Financial Secretary Paul Chan revealed that only a small number of stablecoin licenses will be issued in the first phase. While there are no restrictions on pegged currencies in the legislation, discussions with relevant institutions may be necessary if other regional currencies are involved. Chan emphasized the government's commitment to promoting stablecoin applications, particularly in cross-border payment scenarios, to help developing countries cope with currency devaluation and financial system risks. He also disclosed that Hong Kong plans to further promote the tokenization of financial assets, extending beyond green bonds to potentially include exchange-traded funds (ETFs). Chan believes that token payments could also be explored for trading commodities like metals.
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Link: Hong Kong Financial Secretary Paul Chan: Limited Stablecoin Licenses to be Issued in First Phase, Financial Asset Tokenization to Expand to ETFs [Copy]
