Stablecoin issuer Circle declares that it has no current plans to issue its own stablecoin pegged to the Hong Kong dollar. However, it is open to collaborating with other firms.
According to an interview with the Hong Kong Economic Times, the stablecoin firm’s Vice President for the Asia-Pacific region, Chen Qinqi, stated that the company has no plans to issue their own stablecoin backed by the Hong Kong dollar.
Instead, it is currently focusing its efforts on expanding the utilization of its U.S dollar-stablecoin USDC and its euro-backed stablecoin EURC.
At the moment, Chen Qinqi clarified that institutional investors in Hong Kong can use USDC in Hong Kong under the existing framework without additional regulation related to the Stablecoin Ordinance.
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