Xu Zhengyu Responds to Hong Kong Stablecoin and Digital RMB Development: Exploring Digital Currency Wallet Upgrades

SmartContractAuditor · 2026-03-25T13:47:52+00:00

Hong Kong's Financial Secretary Paul Chan Mo-po stated that the number of digital currency wallets in Hong Kong and their usage are growing steadily, with approximately 80,000 accumulated by the end of January. The People's Bank of China and the Monetary Authority are exploring upgrades to digital wallets to enhance user experience and application scenarios. Stablecoins and central bank digital currencies are expected to be used in various payment scenarios.

SmartContractAuditor

2026-03-25 13:47:52

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Odaily Planet Daily reports that Hong Kong’s Financial Services and the Treasury Bureau Secretary, Christopher Hui, responded to developments in Hong Kong stablecoins, digital RMB, and related initiatives. He stated that the number and usage of digital currency wallets opened via Hong Kong mobile numbers have shown steady growth, with approximately 80,000 digital currency wallets registered by the end of January. The People’s Bank of China and the Hong Kong Monetary Authority are exploring arrangements and feasibility for upgrading digital currency wallets to increase usage limits, expand application scenarios, and improve user experience. Stablecoins, central bank digital currencies (such as digital RMB), and other new payment tools, including tokenized deposits and cross-border fast payment systems, have the potential to be applied in various scenarios such as transaction settlement, local or cross-border payments, provided they comply with relevant laws and regulatory requirements. (Hong Kong SAR Government Gazette)

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