Hong Pizheng, Director of the Hong Kong Gold Association: Stablecoins should not be the object of speculation, but a long-term battle

PANews reported on July 20 that according to the Hong Kong Economic Journal, Hong Pi-cheng, Chairman of the Hong Kong Financial Development Council, recently hosted an annual report press conference and said that stablecoins should not be the object of speculation. The digitalization of asset markets is a long game. Stablecoins should play a stabilizing role and should not be short-sighted. He believes that Hong Kong is currently developing faster than other financial centers. Hong Pi-cheng also revealed that stablecoins are one of the links in the digitalization of Hong Kong's financial markets, allowing trading currency intermediaries to be tokenized. He believes that different assets will be tokenized in the next step, but the development process takes time and will not be fully tokenized for the time being.