TechFlow news, July 29 — According to Hong Kong media "HKEJ," Hong Kong's stablecoin ordinance will take effect this Friday (August 1). Yuanbi Technology is one of the sandbox participants authorized by the Hong Kong Monetary Authority for stablecoin issuance. In a recent exclusive interview, the company's CEO Liu Yu stated that they intend to issue a Hong Kong dollar-pegged stablecoin, HKDR, on the Ethereum public blockchain. The proposed stablecoin will primarily target three application scenarios: digital asset trading, cross-border trade, and asset tokenization, with enterprise and individual operations expected to become commonplace within three to five years.
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