Xu Zhengyu: The positioning of Hong Kong stablecoins is clear, and there is no opportunity for speculation
2025-08-24 03:00:08
Hong Kong's Secretary for Financial Services and the Treasury, Hui Cheng-yu, said that the positioning of stablecoins in Hong Kong is clear, as a delivery tool, another manifestation of legal tender, and there is no opportunity for speculation, reminding the public to be cautious. Xu Zhengyu added that the cost of paying through the banking system may reach 3%, while the cost of using stablecoins is expected to be as low as 1%, which can reduce the cost of cross-border transfer and improve the efficiency of economic operation.
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