Hong Kong Monetary Authority Chief Executive Eddie Yue's latest response: Stablecoins to be launched this year, Wealth Management Connect 3.0 under ongoing discussions.

CoinFeed reported on June 9th that, according to Zhitong Finance, a delegation from the Hong Kong Association of Banks, led by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, visited Beijing and gave a group interview to the media on June 8th. During the interview, Yue discussed hot topics of market concern, including Hong Kong stablecoin licenses, cross-border financial regulation, and the internationalization of the RMB. Yue stated that Hong Kong, as a core hub for the Chinese market, possesses advantages in its system, location, and market, and will continue to attract global capital inflows in the future. Regarding the upcoming stablecoin licenses, Yue revealed that Dingdian Technology is expected to launch its stablecoin in the middle of the year, "starting trial use in about a few weeks," while HSBC is expected to launch its stablecoin in the third or fourth quarter of this year. Dingdian Technology and HSBC's stablecoin application scenarios differ.