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Hong Kong could serve as stablecoin test bed amid China’s effort to raise yuan’s profile
Hong Kong could serve as a stablecoin test bed to boost the internationalisation of the yuan as Beijing puts more focus on the digital version of its currency, according to the chairman and CEO of HashKey Group. “Due to its ‘one country, two systems’ characteristics, Hong Kong’s stablecoins can serve as a testing ground for the mainland, providing both experience and lessons,” said Xiao Feng, who heads one of the city’s licensed cryptocurrency exchange operators, on Wednesday. Earlier in the day, People’s Bank of China (PBOC) governor Pan Gongsheng spoke about stablecoins – digital tokens pegged to a ... (full story)
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