Vice President of HKU: Digital RMB has been tentatively used for settlement in Hong Kong's digital asset market

Deep Tide TechFlow News, February 15 — According to Hong Kong Wen Wei Po, Vice President of the University of Hong Kong, Wang Yang, wrote that in Hong Kong’s digital asset market, Digital Renminbi has tentatively participated in settlement. The primary issuance of Hong Kong dollar and Renminbi bonds, in addition to traditional settlement methods, is also among the first in the world to apply Digital Renminbi and Digital Hong Kong Dollar in settlement procedures. Furthermore, Hong Kong will be the best market for accepting mainland assets RWA. As regulatory coordination and market development progress, there will be opportunities for larger-scale issuance of digital assets in Hong Kong using Renminbi assets, with Digital Renminbi naturally being the preferred settlement currency. From a developmental perspective, stablecoins will become an important usage habit for overseas market users. In the development of Renminbi internationalization, offshore Renminbi stablecoins are one of the future options, and Digital Renminbi deposits and liquidity assets provide the necessary reserve assets for offshore Renminbi stablecoins.