HKU Vice President: Digital Renminbi has been tentatively involved in settlement in Hong Kong's digital asset market

According to the Hong Kong Wen Wei Po, the Vice-Chancellor of the University of Hong Kong, Wang Yang, pointed out that the digital yuan has been tentatively involved in settlements in Hong Kong's digital asset market. In addition to traditional settlement methods, the primary issuance of Hong Kong dollar and renminbi bonds is also among the first in the world to apply digital yuan and digital Hong Kong dollars in the settlement process for digital bonds.

Furthermore, Hong Kong will be the best market for accommodating onshore assets RWA. With regulatory adjustments and market development, there will be greater opportunities for renminbi assets to be issued as digital assets in the Hong Kong market, with digital yuan naturally being the preferred settlement currency. From a developmental perspective, stablecoins will become an important usage habit for offshore market users. In the internationalization of the renminbi, offshore renminbi stablecoins are one of the future options, while digital yuan deposits and digital yuan liquid assets provide the necessary reserve assets for offshore renminbi stablecoins.