TechFlow, August 25 — According to AASTOCKS, Hong Kong's Financial Secretary Paul Chan stated that Hong Kong positions stablecoins as payment instruments, an alternative form of legal tender, leaving no room for speculation. The Stablecoin Ordinance took effect this month. While payment costs via the banking system previously reached up to 3%, it is expected that using stablecoins could reduce costs to 1%, significantly lowering cross-border payment expenses and improving efficiency.
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