Hong Kong Eyes Stablecoin Boost as Seoul Trading Hits HK$1.5T


Hong Kong Eyes Stablecoin Boost as Seoul Trading Hits HK$1.5T
Image source: CoinToday
- Hong Kong promotes its digital asset hub status ahead of new stablecoin regulations. - South Korean trading in the city surges to HK$1.5 trillion, marking a 2.8-fold increase. During a recent three-day visit to Seoul, Hong Kong’s Financial Secretary, Paul Chan Mo-po, championed the city’s financial innovation agenda with a focus on digital assets and stablecoin regulation. The visit, which ended on Thursday, July 13, 2025, highlights Hong Kong's ambition to strengthen its role as a financial innovation leader and enhance ties with South Korea, a key regional partner. According to a report from Cryptopolitan on July 13, Chan emphasized Hong Kong’s position as a "superconnector" in global finance, highlighting the city’s upcoming stablecoin regulatory framework and its commitment to supporting sustainable digital asset markets. His presentation was met with strong interest from South Korean financial stakeholders, signaling deeper collaboration on digital finance initiatives. Evidence of this strengthening partnership is clear in recent trading data, as South Korean-licensed institutions traded HK$1.5 trillion in Hong Kong securities during the first five months of 2025. This figure represents a remarkable 2.8-fold increase compared to the same period in 2024. Chan also showcased a “leveraged inverse product” tied to a South Korean technology company. This product, exclusively tradable in Hong Kong, illustrates the city’s innovative market offerings designed to attract regional financial activity. The visit also focused on sharing regulatory knowledge and exploring stablecoin use cases. Chan highlighted Hong Kong’s unique advantages, including its “One Country, Two Systems” governance model, linked exchange rate system, unrestricted capital flow, and common law judicial foundation. He presented these strengths as compelling reasons for South Korea to deepen its financial collaboration with Hong Kong. Meanwhile, Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, reaffirmed the city’s strategic goals to position Hong Kong as a “value creator” and a “solution provider for real economic issues.” Hui explained that the city’s regulatory approach addresses four key parts of the digital asset ecosystem: exchanges, stablecoin issuers, dealing service providers, and custodians. So far, 11 cryptocurrency exchanges have received licenses from Hong Kong’s Securities and Futures Commission. Lawmakers are also reviewing legislation to integrate smart contract technology, an essential tool for financial innovation. Hong Kong will introduce its stablecoin licensing regime on August 1, 2025. This framework aims to enhance market trust and support sustainable growth in the digital asset sector, a move that solidifies Hong Kong's leadership in Asia’s dynamic financial landscape.
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Market
Published
2025-07-13 19:21
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