Xu Zhengyu: A small number of stablecoin licenses will be issued in the first phase, and the tokenization of financial assets is expected to extend to ETFs

PANews reported on July 13 that according to Cable News, Hong Kong Financial Services and Treasury Secretary Paul Chan said in an interview that only a small number of stablecoin licenses will be issued in the first phase. As for whether the RMB stablecoin can be issued, he said that the law does not restrict the pegged currency, but if it involves other regional currencies, it may be necessary to discuss with relevant institutions. The government issued the Digital Asset Development Policy Declaration 2.0 and also proposed to promote the "tokenization" of financial assets. Paul Chan said that Hong Kong already has experience in issuing token green bonds, and the next step is to extend it to exchange-traded funds ETFs, and believes that commodity transactions such as metals can also be studied in token payments.