Former Hong Kong Monetary Authority Chief: The Hong Kong dollar is the largest "Dollar Stablecoin"

2026-03-02 02:36:15

Abstract generation in progress

Deep Tide TechFlow News, March 2nd, according to Hong Kong media Hong Kong 01, Hong Kong Executive Council member and former Hong Kong Monetary Authority Chief Executive Norman Chan stated that the evolution of geopolitical situations has increased the importance of the Hong Kong dollar’s peg to the US dollar, and he directly said, “The Hong Kong dollar is actually the largest stablecoin of the US dollar.” Norman Chan pointed out that by 2025, Hong Kong will 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.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.