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Hong Kong Official: Clear Positioning of Stablecoin, No Speculative Opportunities Exist

Summary: According to reports from Radio Television Hong Kong, Hong Kong Financial Secretary and Treasury Secretary Paul Chan Mo-po stated that the positioning of stablecoins in Hong Kong is clear, serving as a delivery tool and another manifestation of legal tender, with no speculative opportunities. He cautioned the public to be cautious. Chan added that the ...

According to reports from Radio Television Hong Kong, Hong Kong Financial Secretary and Treasury Secretary Paul Chan Mo-po stated that the positioning of stablecoins in Hong Kong is clear, serving as a delivery tool and another manifestation of legal tender, with no speculative opportunities. He cautioned the public to be cautious. Chan added that the cost of payments through the banking system could reach 3%, while the cost of using stablecoins is expected to be as low as 1%, reducing cross-border payment costs and improving economic efficiency.

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Link: Hong Kong Official: Clear Positioning of Stablecoin, No Speculative Opportunities Exist [Copy]

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