ChaotoTechFlow News - On March 25th, according to a press release from the Hong Kong Special Administrative Region Government, Hong Kong's Financial Secretary Paul Chan responded to developments regarding Hong Kong stablecoins and the digital yuan. He stated that the number of digital currency wallets opened via Hong Kong mobile numbers and their usage have both shown steady growth, with approximately 80,000 digital currency wallets registered cumulatively by the end of January. The People's Bank of China and the Hong Kong Monetary Authority are exploring arrangements and feasibility for upgrading digital currency wallets to increase usage limits, expand application scenarios, and enhance user experience. Stablecoins and central bank digital currencies (such as the digital yuan), as well as other innovative payment tools including tokenized deposits and cross-border connections of fast payment systems, have the potential to be applied to transaction settlement, local or cross-border payments and other scenarios, provided they comply with relevant laws and regulatory requirements.