Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Former President of the Hong Kong Monetary Authority: Hong Kong deserves to study the launch of a Hong Kong dollar stable currency

Former President of the Hong Kong Monetary Authority: Hong Kong deserves to study the launch of a Hong Kong dollar stable currency

Cointime2023/11/16 03:12
By: Cointime
USDC+0.01%

Former chief executive of the Hong Kong Monetary Authority and chairman of Circle Coin Technology Group, Chen De-lin, pointed out that most stablecoins on the market are backed by US dollars. As Hong Kong is a financial center with virtual asset regulatory regulations, it is worth studying the launch of a Hong Kong dollar stablecoin. With the rapid development of Web 3.0 and digital payment applications globally, stablecoin smart contracts can support a large number of new transaction scenarios. However, the stablecoin market is currently dominated by US dollar assets such as USDT and USDC. Considering that the Hong Kong dollar is pegged to the US dollar and Hong Kong is a financial center, it is not ideal to not promote a Hong Kong dollar stablecoin.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Announcement on Bitget listing NFLXUSDT, FUTUUSDT, JDUSDT, RDDTUSDT, QQQUSDT STOCK Index perpetual futures
2
Bitget Trading Club Championship (Phase 15)—Trade spot and futures to share 120,000 BGB, up to 2200 BGB per user!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$114,602.77
-0.21%
Ethereum
Ethereum
ETH
$4,093.15
-1.30%
Tether USDt
Tether USDt
USDT
$1.0000
+0.01%
XRP
XRP
XRP
$2.62
+0.09%
BNB
BNB
BNB
$1,133.64
-0.64%
Solana
Solana
SOL
$198.67
-0.42%
USDC
USDC
USDC
$0.9998
+0.01%
Dogecoin
Dogecoin
DOGE
$0.1986
-1.79%
TRON
TRON
TRX
$0.2981
-0.00%
Cardano
Cardano
ADA
$0.6598
-1.69%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter