Wu Jie, market maker: There is great potential for the development of stablecoins in Hong Kong, but retail investors should remain cautious when investing.

PANews, June 22 - According to Hong Kong media Xincheng Finance, Hong Kong Legislative Council member Wu Jizhuang stated that there is very large space for the development of stablecoins with the passing of the stablecoin regulatory framework to establish a licensing system for stablecoin issuers. He believes that in the future, stablecoins will become a combination of innovative finance and the real economy, and there will be more value-added and entrepreneurial opportunities. However, regarding the intention of internet companies and Financial Institutions to issue stablecoins in Hong Kong, Wu Jizhuang expressed welcome but reminded retail investors not to be greedy. They should first understand the investment risks clearly and maintain a cautious attitude when investing.