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Viewpoint: The development of stablecoins in Hong Kong should be anchored to real-world use cases such as cross-border trade.
BlockBeats News, July 30th: The Hong Kong "Stablecoin Regulation" will officially take effect on August 1, 2025. Song Min, Dean of the China-Central Institute for Regional Economic Development at Wuhan University, stated that the emergence of stablecoins is an inevitable result of technological advancement, but technology cannot replace regulation. China should cherish the opportunity to establish a regulatory framework and follow a path of "institution-led, scenario-based implementation, and gradual progress."
Hong Kong's stablecoin will serve areas such as cross-border trade settlement and on-chain Real World Asset (RWA) integration, boosting the real economy. Hong Kong plays an irreplaceable strategic role in the internationalization of the RMB, with the greatest breakthrough in cross-border trade settlement. More RMB-denominated financial products need to be introduced. (NBD News)
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