Hong Kong Financial Secretary Paul Chan: Stablecoins should not be short-term speculation but rather a long-term strategy. The next step will involve the tokenization of different assets.

[Hong Kong Financial Secretary Paul Chan: Stablecoins should not be speculated on in the short term but should focus on the long-term strategy. The next step will involve the tokenization of different assets] Hong Kong Financial Development Bureau Chairman Paul Chan recently presided over an annual report press conference, stating that stablecoins should not become objects of speculation, and the digitalization of asset markets is a long-term game. Stablecoins should play a stabilizing role and should not have a short-sighted vision, believing that Hong Kong's current development pace is ahead of other financial centers. Paul Chan also revealed that stablecoins are one aspect of the digitalization of the Hong Kong financial market, allowing the tokenization of currency intermediary transactions. He believes that the next step will involve the tokenization of different assets, but the development process will take time, and full tokenization will not happen immediately.