Odaily Planet Daily reports that 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 to host mainland China’s asset RWA. As regulatory coordination and market development progress, there will be greater opportunities for larger-scale issuance of Renminbi assets as digital assets in Hong Kong, with Digital Renminbi naturally being the preferred settlement currency. From a developmental perspective, stablecoins will become an important usage habit for overseas market users. Offshore Renminbi stablecoins are one of the future options in the internationalization of the Renminbi, and Digital Renminbi deposits and liquidity assets provide the necessary reserve assets for offshore Renminbi stablecoins. (Hong Kong Wen Wei Po)
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