Director-General of Invest Hong Kong: Currently, there are discussions with a prospective stablecoin operator to establish a presence in Hong Kong

BlockBeats News, July 7th, according to The Standard, InvestHK Director-General Stephen Phillips said that currently there are virtual asset service providers (VASPs) in talks with their FinTech team about setting up in Hong Kong. It is expected that shortly after the implementation of the "Stablecoin Regulation," there will be related companies establishing a presence.

Stephen Phillips mentioned that in the past two and a half years, 630 Mainland Chinese companies have set up in Hong Kong, accounting for approximately 48% of the total. Due to the Chinese government's policy supporting companies going global, Hong Kong will serve as a springboard, and it is believed that among the companies setting up in Hong Kong in the future, Mainland Chinese companies will still account for a certain proportion.