Christopher Hui: Hong Kong is exploring the "tokenization" of stable cash flows such as international shipping charter fees.

Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, stated that Hong Kong is exploring how to "tokenize" stable cash flows such as international shipping charter fees and place them on the blockchain for investors to subscribe to. This model can not only create new investment products but also leverage blockchain technology to achieve asset traceability. Regarding stablecoins, relevant laws have been passed and license applications are currently being reviewed, with the goal of issuing them starting next year. He emphasized that stablecoins are not tools for speculation but rather aim to address pain points in the real economy, particularly in cross-border payments; therefore, the initial number of licenses issued will be very limited, and regulation will be extremely cautious.