PANews reported on June 21 that according to the Hong Kong China News Agency, Lu Weiguo, chairman of the Hong Kong Economic and Democratic Federation and member of the Legislative Council, said that the development of stablecoins is a "breakthrough" in Hong Kong's financial market, and the issuance of offshore RMB stablecoins in Hong Kong can reduce Hong Kong's dependence on the SWIFT system.
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Hong Kong Legislative Council members suggest expanding the Hong Kong RMB fund pool to 5 trillion yuan to facilitate the development of stablecoins.
PANews reported on June 21 that according to the Hong Kong China News Agency, Lu Weiguo, chairman of the Hong Kong Economic and Democratic Federation and member of the Legislative Council, said that the development of stablecoins is a "breakthrough" in Hong Kong's financial market, and the issuance of offshore RMB stablecoins in Hong Kong can reduce Hong Kong's dependence on the SWIFT system.