According to Odaily Planet Daily, Hong Kong Financial Services and the Treasury Secretary Paul Chan stated that Hong Kong has a clear positioning for stablecoins: as a delivery tool and another form of legal tender, there is no opportunity for speculation, and he urged the public to exercise caution. He said that while payments through the banking system could cost as much as 3%, using stablecoins could potentially cost as little as 1%, reducing cross-border payment costs and improving economic efficiency. (Jinshi)