TechFlow, August 26 — According to Hong Kong's Ming Pao, Chinese technology companies may collaborate with digital banks (formerly known as virtual banks) to apply for Hong Kong-issued stablecoins. Many major Chinese tech firms are already shareholders in local Hong Kong digital banks. With a focus on tokenized asset trading and cross-border payments, they may form partnerships with digital banks to promote stablecoin issuance. Charles Zeng, Managing Director of Futu Group, has stated that the company will explore enabling users to use stablecoins as platform balances or held assets to purchase stocks, while assisting with fiat currency clearing and settlement processes to facilitate investment.
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