Xu Zhengyu: Stablecoin reserve assets can only be placed in high-quality and highly liquid assets
2025-07-05 09:06:19
According to the Hong Kong Special Administrative Region Press Release, Hong Kong Secretary for Financial Services and the Treasury Xu Zhengyu said in his speech at the Hong Kong Digital Finance Awards 2025 ceremony that the licensing system for stablecoin issuers will help promote the development of practical application scenarios and solve the pain points faced by the real economy. Appropriate requirements have been set in reserve asset management, stabilization mechanism, redemption process and prudent risk management. For example, reserve assets should not be lower than the value of redemption opportunities at any time. At the same time, reserve assets can only be placed in high-quality and liquid assets. Market participants are welcome to make suggestions to see how the government can take the lead in testing and using licensed stablecoins.
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