On July 26 (UTC+8), HSBC stated that the development of the Hong Kong dollar stablecoin will not affect the linked exchange rate system, as the issuance of the stablecoin is merely a transfer of Hong Kong dollars within the system, with the overall supply remaining unchanged. As long as the Monetary Authority maintains sufficient foreign exchange reserves, the stablecoin will not weaken the Hong Kong dollar peg mechanism. Additionally, Hong Kong is expected to serve as a testing platform for stablecoin development, assisting mainland regulators in observing its impact on the economy and cross-border payments. In the future, stablecoins linked to the Renminbi may emerge for cross-border settlement or tokenization of asset transactions, aiding in the internationalization of the Renminbi and weakening the dominance of the US dollar in the digital asset space.