Xu Zhengyu: Hong Kong stablecoin is a delivery tool, and there is no opportunity for hype

Foresight News, according to AASTOCKS, Hong Kong Financial Affairs and Treasury Secretary Xu Zhengyu said that Hong Kong's stablecoin is positioned as a delivery tool, which is another manifestation of legal tender and there is no opportunity for speculation. The Stablecoin Ordinance will come into effect this month. In the past, the cost of payment through the banking system may reach 3%, but it is believed that the cost of using stablecoins is expected to drop to 1%, which will reduce cross-border payment costs and improve efficiency.
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