Hong Kong Stablecoin wey dem design for payment, no be for speculation
Hong Kong Financial Secretary Xu Zhengyu tok say di city new Stablecoin Regulations wey start dis month, define stablecoins as payment tools and extension of legal money without any speculation side. By cuttin cross-border payment cost from up to 3% to about 1%, stablecoins fit boost transaction efficiency well well. Plus, di government plan to gather stakeholders two times to build Hong Kong into international gold trading hub, starting with vault infrastructure and expand into trading plus settlement frameworks for precious metals. Dis steps show Hong Kong push to grow fintech use and commodity market.
Neutral
While Hong Kong regulatory clarity on stablecoins and cost reduction for cross-border payments dey improve efficiency and adoption, di explicit talk say stablecoins na non-speculative payment tool fit limit trading-driven volatility, dem dey suggest say market impact be neutral. Similar frameworks for other places don streamline payments without sharply boosting speculative demand, e mean say traders wey dey focus on utility rather than price swings fit enjoy stable environment.