Xu Zhengyu: Hong Kong's regulated stablecoin is expected to be launched as early as the middle of this year.

CoinFeed reported on June 11 that, according to Cailian Press, Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, stated that before the two licensed stablecoin issuers can officially launch, they need to complete technical platform and system testing and implement various risk management measures (covering reserve asset management and asset security, currency stabilization mechanisms, redemption rules, and cybersecurity). The Hong Kong Monetary Authority (HKMA) has maintained close communication with the licensed issuers to ensure the smooth progress of all preparatory work. Based on the current business plans of the two institutions, Hong Kong's regulated stablecoin is expected to be launched as early as the middle of this year. In addition, the HKMA has proactively contacted other applicant institutions to conduct further communication and coordination.