Hong Kong Monetary Authority: Seven banks hope to launch tokenized deposits within this year

According to Foresight News, Hong Kong media reported that Hong Kong Monetary Authority Assistant President (Financial Infrastructure) Zhou Wenzheng said that based on the intentions received by the Hong Kong Monetary Authority, seven banks currently hope to launch tokenized deposits this year. In addition, in response to market rumors that the Hong Kong Monetary Authority will not promote the retail application of digital Hong Kong dollars for the time being, Hong Kong Monetary Authority Vice President Li Dazhi responded: "The retail application of stablecoins has not been ruled out. I feel that there are great opportunities to use stablecoins in retail. The actual usage still needs to be decided by commercial institutions." Li Dazhi added that the technical nature of digital Hong Kong dollars, stable coins and tokenized deposits are similar, but the issuers are different. Digital Hong Kong dollars are "public currencies", while tokenized deposits and stable coins are "private currencies". Digital Hong Kong dollars and tokenized deposits tend to use private chains, while stable coins are mostly issued on public chains.
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