Hong Kong launches the concept of "designated stablecoin": value anchoring regulatory model aids in the construction of an international financial center.

The 21st Century Economic Report published an analysis titled “Hong Kong’s ‘Bet’ on Stablecoins: A Key Move for an International Financial Center,” which points out that Hong Kong has proposed the concept of “designated stablecoins,” corresponding to a model of “value anchoring regulation.” The concept of “designated stablecoins” refers to stablecoins that maintain stable value by referencing one or more official currencies, or the units of account or forms of economic value storage designated by the Monetary Authority.