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Hong Kong lawmakers suggest expanding the RMB fund pool to 5 trillion to support the development of offshore RMB stablecoin.
[Chain News] PANews June 21 news, it is reported that the chairman of the Hong Kong Federation of Trade Unions and Legislative Council member Lau Wai-kwok stated that the development of stablecoins is a “breakthrough” for Hong Kong’s financial market. Issuing offshore RMB stablecoins in Hong Kong could reduce the city’s dependence on the SWIFT system. He has suggested striving to expand the RMB funding pool in Hong Kong to five times its current size, increasing it to 5 trillion RMB, in line with the development needs of RMB stablecoins.