许正宇: Hong Kong Stablecoin Offers No Speculative Opportunities, Aims to Enhance Economic Efficiency

BlockBeats News, August 24th. According to Radio Television Hong Kong, Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, stated that the positioning of Hong Kong's stablecoin is clear. It is intended as a means of settlement and is another representation of the legal tender, with no speculative opportunities. He reminded the public to be cautious. Hui added that the cost of payment through the banking system can be as high as 3%, while the cost of using a stablecoin is expected to be as low as 1%, which can reduce cross-border payment costs and improve economic efficiency.