Hong Pizheng: Stablecoins are a long-term battle and should not be reduced to a short-term speculation tool

By: odaily.com|2025/07/20 10:31:44

Odaily News As the Stablecoin Ordinance is about to take effect on August 1, Hong Pizheng, Chairman of the Hong Kong Financial Development Council, said at the annual report release conference that stablecoins are part of the digitalization of Hong Kongs financial market and should play a stabilizing role rather than being manipulated by short-term speculation. He pointed out that dozens of companies are currently interested in applying for stablecoin business. Although it takes time to develop, Hong Kong is already in the global leading echelon. In addition, Hong Pizheng proposed that Hong Kong should be positioned as a treasury center facing the Global South, using the development of stablecoins to help diversify investment and supply chain risks.

Hong Kong, Jan. 1, 2026. WEEX has entered into a new partnership with LALIGA, as an official regional partner of LALIGA in Taiwan and Hong Kong. The agreement brings WEEX into LALIGA’s network of regional collaborators and opens the door to new ways of engaging both fans and traders during the season.

The first large-scale adoption of a "yield-bearing stablecoin" was in China

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