According to online reports, according to the Hong Kong Special Administrative Region press release, Hong Kong Secretary for Financial Services and the Treasury Hui Ching-yu delivered a speech at the Hong Kong Digital Finance Awards 2025 Award Ceremony that the stablecoin issuer licensing system will help promote the development of practical application scenarios and solve the problem of the real economy. For pain points, appropriate requirements have been set in reserve asset management, stability mechanism, redemption process and prudent risk management. For example, the value of reserve assets must not be lower than what they have a chance of redemption at any time. At the same time, reserve assets can only be placed in high-quality and highly liquid assets. Market participants are welcome to put forward suggestions and see how the government can take the lead in testing and using licensed stablecoins.