Christopher Hui: Stablecoin licenses to be issued in limited quantities in the first phase; tokenization of financial assets to be extended to ETFs

According to cable news reports, Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, said in an interview that only a small number of stablecoin licenses will be issued in the first phase. As for whether a Renminbi stablecoin can be issued, he said that the law does not restrict the types of currencies pegged, but if it involves other regional currencies, it may be necessary to discuss with relevant institutions. He also revealed that Hong Kong will promote the tokenization of financial assets in the future. Following green bonds, the next step is expected to extend to exchange-traded funds (ETFs), and he believes that commodity trading such as metals can also be studied for payment with tokens. [Wu Shuo]