Wu Jiezhuang: Stablecoins have great potential for development in Hong Kong, but retail investors should remain cautious when investing

According to the Hong Kong media New City Finance Channel, Hong Kong Legislative Council member Ng Kit chung stated that there is great potential for the development of stablecoins in Hong Kong, which will become a combination of innovative finance and the real economy. He believes that there will be more opportunities for value-added and entrepreneurship in response to the passage of the stablecoin bill to establish a stablecoin issuer licensing system. However, Wu Jiezhuang welcomed the Internet companies and financial institutions' plans to issue stable currency in Hong Kong, but reminded retail investors not to be greedy. They should first understand the investment risks and be cautious when making investments.