Jan 14, 202514665 Views
Jan 14, 2025
Luo Zhuojian, a member of the National Committee of the Chinese People's Political Consultative Conference and a consulting expert of the Ministry of Finance, called for the active development of stablecoins to maintain Hong Kong's financial center advantages. He pointed out that Hong Kong can cooperate with financial institutions in other regions in the application of stablecoins, explore their potential in international settlement and cross-border application models, and also encourage traditional financial institutions, payment platforms, and technology companies to cooperate in promoting the application of stablecoins. In addition to cross-border and payment, stablecoins can also be used in fundraising and asset management, further expanding their application scope. In addition, it is necessary to expand the participation scope of the sandbox, relax the application conditions, and allow more start-ups and innovative projects to test new products in a low-risk environment.
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