Yu Weiwen: To avoid excessive speculation on stablecoins, at most a few stablecoin licenses will be granted in the initial stage

According to a report by Golden Ten, the Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, has once again talked about stablecoins. Recently, with the hype surrounding the concept of stablecoins, there has been excessive excitement in the market. Some listed companies, regardless of whether their business is related to stablecoins or digital assets, have declared their intention to develop stablecoin business, and their stock prices have risen accordingly. In addition to a significant increase in stock trading volume, the company's reputation has also been greatly enhanced. In fact, we have previously made it clear that at most a few stablecoin licenses will be granted in the initial stage, in other words, there are many disappointed individuals. Even if we obtain a license, based on our desire for steady development and the initial resource investment required, there will be some uncertainty in the contribution to the company's short-term profits. We hope that investors can remain calm and independent when digesting the "positive" news in the market.