Xu Zhengyu: Hong Kong's regulated stablecoin is expected to be launched in the middle of this year

The Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, Xu Zhengyu, stated that the two licensed stablecoin issuers need to complete technology platform testing and risk management measures. The regulated stablecoin in Hong Kong is expected to be launched in the middle of this year. The Hong Kong Monetary Authority maintains communication with licensed issuers and adopts uniform and strict review standards for other applicants, focusing on application scenarios, operational models, and compliance.