According to Odaily Planet Daily, To Kam-kun, Chairman of the Hong Kong Investor and Financial Education Council (IFEC), stated in a recent interview that stablecoins are primarily used as a cross-border remittance tool. If widely accepted, they could potentially reduce cross-border payment costs. Stablecoins are related to virtual currencies and are issued by private institutions. They are collateralized by mainstream fiat currencies like the US dollar. Using cryptocurrencies as collateral leads to high volatility, so those without sufficient understanding of these products should avoid investing. (Hong Kong 01)