Hong Kong FSTB Secretary Christopher Hui: Stablecoins Should Not Be Used for Short-Term Speculation but for Long-Term Strategy, with Asset Tokenization as the Next Step

According to a report by Jinse Finance, Hong Kong Financial Services Development Council Chairman Laurence Li recently stated at the annual report press conference that stablecoins should not be used for speculation, and the digitalization of asset markets is a long-term endeavor. Stablecoins are meant to play a stabilizing role and should not be viewed with short-term thinking. He believes that Hong Kong's current pace of development is ahead of other financial centers. Li also revealed that stablecoins are one component of the digitalization of Hong Kong's financial markets, enabling the tokenization of intermediary currencies in transactions. He expects that the next step will be the tokenization of various assets, but emphasized that this development will take time and comprehensive tokenization will not happen in the near future.