Hong Kong Financial Secretary Paul Chan: The positioning of Hong Kong's stablecoin is clear, and there are no speculative opportunities

ChainCatcher news, according to Hong Kong Radio, the Secretary for Financial Services and the Treasury, Hui Chengyu, stated that the positioning of Hong Kong's stablecoin is clear, serving as a means of payment and another manifestation of fiat currency, with no speculative opportunities, reminding the public to be cautious.

Hui Chengyu added that the cost of payments through the banking system could reach 3%, while the cost of using stablecoins is expected to be as low as 1%, which can reduce cross-border payment costs and enhance economic operational efficiency.