TechFlow News, March 25: According to a press release issued by the Hong Kong Special Administrative Region Government, Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, responded to questions regarding stablecoins and the digital renminbi (e-CNY) in Hong Kong. He stated that the number of e-CNY wallets opened using Hong Kong mobile phone numbers—and their usage—have shown steady growth; as of the end of January, approximately 80,000 e-CNY wallet registrations had been recorded cumulatively. The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are currently exploring arrangements and feasibility for upgrading e-CNY wallets, aiming to increase wallet transaction limits, expand application scenarios, and enhance user experience. Stablecoins, central bank digital currencies (such as e-CNY), and other emerging payment instruments—including tokenized deposits and cross-border linkages of fast payment systems—hold potential for use across various scenarios, such as transaction settlement and domestic or cross-border payments, provided they comply with applicable laws and regulatory requirements.
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