Xu Zhengyu: There is no opportunity for speculation in Hong Kong's stable currency, and the goal is to improve economic efficiency

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On August 24th, Radio Television Hong Kong reported that Hong Kong Financial Services and the Treasury Secretary Paul Chan stated that Hong Kong's stablecoin has a clear positioning as a delivery tool and an alternative form of legal tender, posing no opportunity for speculation. He urged the public to exercise caution. He added that while the cost of payments through the banking system could reach 3%, the cost of using a stablecoin could be as low as 1%, potentially reducing cross-border payment costs and improving economic efficiency.

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