Circle: The Hong Kong government intends to develop capital market tokenization and provided advice to the HKMA during the stablecoin regulatory cons

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Cointime2024/11/04 02:23

By:Cointime

Circle's Vice President for the Asia-Pacific region, Chen Qinqi, revealed that the stablecoin USDC's issuance in Hong Kong is also following internationalization. During the consultation period with the Hong Kong Monetary Authority, Circle provided suggestions on how to integrate into Hong Kong's environment and regulations as an overseas issuer subject to supervision from different countries. Circle is currently in talks with various regulatory departments. In addition, Chen Qinqi also revealed that the Hong Kong government has ideas for developing capital market tokenization, including reducing capital costs. Circle's main goal in the future is to promote networked currencies that can be applied to exchanges, P2P, or e-wallets, with different companies creating their own use cases and assisting small and medium-sized enterprises in reducing capital costs.

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