Yu Weiwen: Avoiding excessive speculation of stablecoins, at most only a few stablecoin licenses will be issued in the initial stage

Hong Kong Monetary Authority Chief Executive Eddie Yue once again discussed stablecoins. With the recent hype surrounding stablecoins, the market has seen an excessive level of excitement. Some listed companies, regardless of whether their core business is related to stablecoins or digital assets, have seen their stock prices soar simply by claiming to be interested in expanding into the stablecoin business. This has also led to a significant increase in trading volume and an increase in the company's visibility. In fact, we have previously made it clear that at the initial stage, at most only a few stablecoin licenses will be issued, meaning that there will be no shortage of disappointments. Even if a license is obtained, due to our desire for steady growth and the initial resources required, there will be some uncertainty in terms of the company's short-term profitability contribution. We hope that investors will remain calm and think independently when digesting the market's positive news.