HKU Vice President: Hong Kong's digital asset market has already experimented with using digital RMB for settlement
According to an article by Wang Yang, Vice President of the University of Hong Kong, the digital RMB has already been experimentally involved in settlements within Hong Kong's digital asset market. In addition to traditional settlement methods, the primary issuance of HKD and RMB bonds is also among the first in the world to apply digital RMB and digital HKD in the settlement process of digital bonds. Furthermore, Hong Kong will be the best market for accommodating onshore asset RWA, and as regulatory adaptation and market development progress, a larger scale of RMB assets will have the opportunity to be issued as digital assets in the Hong Kong market, with digital RMB naturally becoming the preferred settlement currency. From a development perspective, stablecoins will become an important usage habit for overseas market users. In the process of RMB internationalization, offshore RMB stablecoins are one of the future options, while digital RMB deposits and digital RMB liquidity assets provide the necessary reserve assets for offshore RMB stablecoins.
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