Cointime

Cointime

Download App
iOS & Android
Home / Point

HK Monetary Authority Chief: Stablecoin Launch This Year, Ongoing Discussions on Wealth Management Connect 3.0

On June 9, Hong Kong Monetary Authority Chief Eddie Yue led a delegation from the Hong Kong Association of Banks to Beijing and participated in a media interview on June 8. During the interview, Yue addressed several market concerns, including Hong Kong's stablecoin license, cross-border financial regulation, and the internationalization of the Renminbi. He stated that Hong Kong, as a core hub for accessing the Chinese market, possesses a triple advantage of system, location, and market, and will continue to attract global capital inflows. Regarding the upcoming stablecoin licenses, Yue revealed that Diginex Technology is expected to launch its stablecoin around mid-year, with trials starting in a few weeks, while HSBC plans to introduce its stablecoin in the third to fourth quarter of this year. The applications of stablecoins from Diginex Technology and HSBC differ; Diginex focuses on cross-border payments, aiming to reduce remittance costs and increase transaction speed, suitable for cross-border e-commerce and regional trade scenarios. In contrast, HSBC is more focused on expanding retail payment scenarios and may involve connecting to clearing platforms to promote the clearing of tokenized assets.

Comments

All Comments

Recommended for you

  • US Spot Ethereum ETF Sees Net Outflow of $4.93 Million

    On June 13, according to monitoring by Trader T, the US spot Ethereum ETF experienced a net outflow of $4.93 million yesterday.

  • US Spot Bitcoin ETF Sees Net Inflow of $85.82 Million Yesterday

    On June 13, according to monitoring by Trader T, the US spot Bitcoin ETF recorded a net inflow of $85.82 million yesterday.

  • U.S. Bans Foreign Access to Fable 5 and Mythos 5; Anthropic Issues Detailed Rebuttal

    On June 13, Anthropic issued a statement announcing that the U.S. government, citing national security powers, has released an export control directive requiring the suspension of all access to the AI models Fable 5 and Mythos 5 by foreign entities, regardless of whether the individuals are within the U.S., including Anthropic employees who are foreign nationals. The practical effect of this order is that we must immediately disable access to Fable 5 and Mythos 5 for all customers to ensure compliance. Access to all other Anthropic models will not be affected. We received the government's directive at 5:21 PM (Eastern Time) today. The letter did not specify the details of its national security concerns. Our understanding is that the government believes it has become aware of a method to bypass or 'jailbreak' Fable 5. So far, the government has only provided us with verbal evidence suggesting the existence of a potential narrow, non-general jailbreak, essentially by requiring the model to read specific code libraries and fix any software defects. We are complying with the government's legitimate directive and are in the process of removing all users' access to Fable 5 and Mythos 5. However, we disagree with the conclusion that 'a narrow potential jailbreak vulnerability should be the reason to recall commercial models deployed to hundreds of millions of users.' (Jinshi)

  • Iranian Foreign Minister: Iran-U.S. Memorandum of Understanding May Be Signed in Days

    On June 13, Iranian media reported that Iranian Foreign Minister Amir-Abdollahian stated that once the final stage of negotiations between Iran and the U.S. is completed, the memorandum of understanding will be signed and announced immediately. The first phase will be signed electronically from a distance, "which may happen in the coming days." (Xinhua News Agency)

  • U.S. Officials: U.S. and Iran Close to Agreement, Signing Expected in Coming Days

    On June 13, Reuters reported that a senior U.S. official stated on Friday local time that the U.S. and Iran have not yet truly reached the finish line, but are very close to finalizing an agreement to resolve their conflicts. Washington expects to sign the agreement in the coming days. 'The negotiating team has put us in a very favorable position, but we still need to see, we haven't really reached the finish line, but we are very close,' the U.S. official said. The official noted that the agreed terms achieve a core goal of Trump. The memorandum of understanding includes the reopening of the Strait of Hormuz and the lifting of U.S. blockades on Iranian ports. Iran's highly enriched uranium will also be destroyed on-site and subsequently removed from the country. 'Iran will not gain anything from signing the memorandum or from the negotiations themselves,' the official said. 'They will receive economic rewards for fulfilling the obligations set forth in the agreement. Therefore, if they commit to handing over nuclear materials, they will gain something. If they dismantle their nuclear program or facilities, they will receive additional benefits.'

  • Iran's Foreign Ministry: Iran is Reviewing Draft Memorandum of Understanding

    On June 13, local time on the 12th, Iranian Foreign Ministry spokesperson Baghaei stated that Iran and the United States have reached an understanding on most issues, and Iran is currently in the final stages of compiling the text of the memorandum of understanding. Therefore, the previous statement by Iranian Foreign Minister Amir-Abdollahian that 'the two sides are very close to reaching an understanding' is accurate and noteworthy. Meetings of relevant decision-making bodies are ongoing, and this is a process that is being continuously advanced. To achieve a final and decisive outcome, consensus must be formed among decision-making bodies and relevant departments. Baghaei also mentioned that various speculations regarding the content of the agreement text have not been confirmed. Although specific details of the diplomatic process cannot be publicly discussed at this time, this does not mean that the public does not have the right to be informed. (CCTV News)

  • SpaceX Opens at $150 on First Day of Trading, IPO Price Set at $135

    On June 12, SpaceX opened at $150 on its first day of trading, with an IPO price set at $135.

  • Iranian Foreign Minister Claims Iran and US 'Have Never Been Closer' to Memorandum of Understanding

    On June 12, Iranian Foreign Minister Amir-Abdollahian stated on social media that Iran and the US 'have never been closer' to reaching a memorandum of understanding. He urged the media to refrain from speculating on its contents before finalization. The Iranian side will disclose all details in due course. (CCTV News)

  • BTC Surpasses $64,000

    Market data shows that BTC has surpassed $64,000, currently priced at $64,107.99, with a 24-hour increase of 2.18%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ARM Soars Nearly 10%, Bank of America Predicts Server CPU Market to Quadruple by 2030

    On June 12, ARM surged nearly 10%, reaching $376.18. According to a recent forecast by Vivek Arya, an analyst at Bank of America Global Research, the total addressable market (TAM) for server CPUs is expected to skyrocket from $35 billion in 2025 to over $170 billion by 2030. This significantly exceeds the bank's previous prediction of a $125 billion market size for server CPUs by 2030. Arya stated in the report, 'We believe the rise of agent-based AI is a powerful demand accelerator that not only expands the market opportunities for CPUs but also benefits Intel, AMD, and challengers based on Arm architecture.'

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company