University of Hong Kong Vice President: Hong Kong Digital Asset Market Has Experimented with Digital Yuan in Settlement

Odaily News: Wang Yang, Vice President of the University of Hong Kong, wrote in an article that the digital yuan has been experimentally involved in settlement within Hong Kong's digital asset market. Apart from offering traditional settlement methods, the primary issuance of Hong Kong dollar and renminbi bonds also represents the world's first batch of digital bonds to utilize the digital yuan and digital Hong Kong dollar in their settlement procedures. Furthermore, Hong Kong will be the optimal market for hosting mainland China's asset RWA. As regulatory alignment and market development progress, a larger scale of renminbi-denominated assets will have the opportunity to be issued as digital assets in the Hong Kong market, with the digital yuan naturally becoming the preferred settlement currency. From a developmental perspective, stablecoins will become one of the important usage habits for users in offshore markets. In the internationalization of the renminbi, offshore renminbi stablecoins are a future option, while digital yuan deposits and digital yuan liquid assets provide the necessary reserve assets for offshore renminbi stablecoins. (Hong Kong Wen Wei Po)