ChainCatcher reports that according to Hong Kong media Hong Kong 01, Hong Kong Executive Council member and former Hong Kong Monetary Authority Chief Executive Norman Chan said that the evolution of geopolitical dynamics has increased the importance of pegging the Hong Kong dollar to the US dollar, and he straightforwardly stated, “The Hong Kong dollar is actually the largest stablecoin of the US dollar.”
Norman Chan pointed out that by 2025, Hong Kong is expected to hold about $256 billion in US Treasury bonds, a scale larger than any so-called US dollar stablecoin today. Therefore, Hong Kong’s financial direction is very clear: to maintain the linked exchange rate system. Hong Kong is the most active US dollar market in Asia. If the Hong Kong dollar is not allowed to continue pegging to the US dollar, forcing a major buyer to sell off would not be wise.
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
Kazakhstan's Central Bank Will Invest Up to $350 Million in Crypto Assets: Reuters
Kazakhstan’s central bank plans to invest up to $350 million in cryptocurrencies and related assets, focusing on high-tech firms and financial products. This initiative aims to diversify investments and is linked to the development of Alatau City, a future smart city.
Decrypt18m ago
DXY Breaks Above the Daily 200MA and Crypto Markets Are Watching the ~100 Level Like a Hawk
Currently, the U.S. Dollar Index (DXY) is starting to play a key role in crypto trading this morning. The Dollar has crossed above its Daily 200 period moving averages on March 1, 2026, and is now testing below its Daily 200 period Exponential Moving Averages. Daan Crypto Trades called attention to
BlockChainReporter40m ago
The US Dollar Index rose 1.5% this week, marking the largest gain of the year, driven by safe-haven demand.
The US dollar performed strongly amid Middle East conflicts and soaring oil prices, rising 1.5% this week, the largest increase in over a year. Despite the US non-farm payroll report showing job reductions, the market remains influenced by oil prices and uncertainty, continuing to push the dollar higher.
GateNews52m ago
The first Polkadot spot ETF in the United States launches on NASDAQ with an initial size of approximately $11 million
21Shares launched the first U.S. spot Polkadot ETF on March 6, with the trading code TDOT. It is listed on Nasdaq, with an initial size of approximately $11 million and a management fee of 0.3%. The fund provides investors with a tool to track the spot price of Polkadot.
GateNews1h ago
Bitcoin and Ethereum ETFs Record Daily Outflows While Maintaining Weekly Gains
Gate News bot message, according to the March 6 update, Bitcoin ETFs recorded a daily net outflow of 1,697 BTC (valued at $116.94 million), while maintaining a 7-day net inflow of 13,014 BTC (valued at $896.69 million). Ethereum ETFs showed a daily net outflow of 3,185 ETH (valued at $6.34 million),
GateNews1h ago
Spot silver rises over 3% intraday, trading at $84.76 per ounce
Gate News Report, March 6, according to market data, spot silver rose over 3.00% intraday, currently trading at $84.76 per ounce. Spot gold broke through $5150 per ounce, up 1.36% intraday.
GateNews1h ago
