TechFlow news, on July 13, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said in an interview with i-Cable's "Wealth & Wisdom" that initially only a small number of stablecoin licenses will be issued. Regarding the possibility of issuing RMB-pegged stablecoins, he stated that the law does not restrict the choice of pegged currencies, but if involving currencies from other jurisdictions, discussions with relevant authorities may be required.
Hui emphasized that the government will take the lead in promoting stablecoin applications, particularly focusing on cross-border payment scenarios to help developing countries address local currency depreciation and financial system risks. He also revealed that Hong Kong will advance tokenization of financial assets. Following green bonds, the next step is expected to extend to exchange-traded funds (ETFs), and commodity trading such as metals could also explore token-based payments.
