20250607 Xu Zhengyu: Stablecoins can be used for payment in the future USDT

許正宇:穩定幣日後可用作支付功能 https://news.rthk.hk/rthk/ch/component/k2/1807989-20250607.htm





The “Stablecoin Ordinance” in Hong Kong will be officially implemented on August 1. The Secretary for Financial Services and the Treasury, Paul Chan, said that the underlying basis of stablecoins is legal tender, and in the future they can be used as payment functions in the form of electronic assets through technologies such as blockchain.

Xu Zhengyu said on our program “Saturday Accountability” that the issuers of stablecoins are supervised by the HKMA, and the general principles of supervision are similar to those of traditional financial assets. The relevant issuers must comply with regulations on reserve asset management and redemption, including properly separating customer assets. When a stablecoin holder makes a redemption request, it must be completed within one working day to meet user requirements.

When talking about the future application scenarios of stablecoins, Xu Zhengyu gave an example. Since stablecoins have payment characteristics, when services or projects are carried out in the “Belt and Road” region, and the local currency exchange rate fluctuates greatly or the financial system is not very mature, if the local currency is used for payment, there will be certain risks. The other party can use stablecoins for payment purposes, breaking through the bottleneck currently encountered in cross-border payments.


Comments

發佈留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *

WordPress Appliance - Powered by TurnKey Linux