Gate News Report, March 25 — Hong Kong Financial Secretary Paul Chan responded to the development of Hong Kong stablecoins and digital renminbi. He stated that the number and usage of digital renminbi wallets opened via Hong Kong mobile numbers have been steadily increasing, with approximately 80,000 wallets registered by the end of January. The People’s Bank of China and the Hong Kong Monetary Authority are exploring arrangements and feasibility for upgrading digital currency wallets to increase usage limits, expand application scenarios, and improve user experience. Paul Chan pointed out that stablecoins, central bank digital currencies (such as digital renminbi), and other new payment tools—including tokenized deposits and fast payment system cross-border connections—have the potential to be applied in various scenarios such as transaction settlement, local or cross-border payments, provided they comply with relevant laws and regulatory requirements.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP ETFs Hit $1.5B Inflows After SEC Clarity Unlocks Demand
XRP ETFs saw $1.5 billion in inflows post-regulatory clarity, driven by strong institutional demand and new SEC rules. Major firms increased their holdings, and XRP network activity surged, indicating robust adoption and investor interest in crypto.
CryptoFrontNews2h ago
KelpDAO's Liquid Staking Token Faces Over $100M Exploitation
Gate News message, according to onchain data, KelpDAO's liquid staking token has been exploited for over $100 million. The incident involves KelpDAO's liquid staking token infrastructure.
GateNews6h ago
Chainalysis Details 'Shadow Crypto Economy' Exposure as Grinex Suspends Operations
Grinex’s shutdown is intensifying scrutiny of crypto laundering tactics, as fund movements suggest behavior inconsistent with typical enforcement actions. Chainalysis analysis highlights patterns that raise questions about whether the activity aligns with a conventional external hack or
Coinpedia8h ago
Tether Mints 1 Billion USDT, USDT Market Cap Surges Over $2 Billion in a Week
Tether minted one billion USDT, boosting its market cap by over two billion dollars in a week, reflecting rising demand for stablecoins.
GateNews11h ago
Ethereum Processes 200M Transactions in Q1 2026, Up 43% QoQ
Ethereum experienced its highest quarterly transaction volume in Q1 2026 with over 200 million transactions, marking 43% growth from the previous quarter. Layer 2 solutions and stablecoin usage drove this surge, indicating a utility-focused adoption trend.
GateNews11h ago
