Xu Zhengyu: Hong Kong's stablecoin has a clear positioning and there is no opportunity for speculation

 Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, stated that the positioning of Hong Kong's stablecoin is clear, serving as a delivery tool and another embodiment of legal tender, with no speculation opportunities. He reminded the public to be cautious. Hui added that the cost of payment through the banking system could be up to 3%, while the cost of using stablecoins is expected to be as low as 1%, reducing cross-border payment costs and improving economic efficiency.