Hong Kong Treasury Bureau: Digital Yuan and Stablecoin Pilot Progressing Steadily, Wallet Count Reaches Approximately 80,000

TechubNews · 2026-03-25T08:20:59+00:00

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that the application of the digital yuan in Hong Kong continues to improve. As of the end of January 2026, 80,000 wallets have been opened, and the number of accepting merchants has increased to 5,200. The government is exploring ways to optimize wallet usage and user experience. Meanwhile, the stablecoin ordinance came into effect in 2025, with the first batch of licenses to be issued this year.

TechubNews

2026-03-25 08:20:59

Abstract generation in progress

Techub News reports that Hong Kong’s Financial Services and the Treasury Bureau Secretary Christopher Hui stated in a written reply to lawmakers during a Legislative Council meeting that the cross-border pilot application of Digital RMB in Hong Kong continues to improve. As of the end of January 2026, approximately 80,000 Digital RMB wallets have been opened using Hong Kong mobile numbers. The number of local retail merchants accepting Digital RMB has increased to about 5,200, covering chain retail stores, hotels, restaurants, convenience stores, and supermarkets. Meanwhile, the mainland operators managing Digital RMB wallets have increased from 4 to 5, and the number of local Hong Kong banks participating in the “FPS” value-added services has grown from 17 to 18. The government and the Hong Kong Monetary Authority are exploring further improvements to the usage limits, application scenarios, and user experience of Digital RMB wallets, with specific plans and timelines to be finalized.

Additionally, the Stablecoin Ordinance came into effect on August 1, 2025, with the first batch of stablecoin licenses expected to be issued within this year. The government believes that stablecoins and digital RMB, as new payment tools, each have their own characteristics. Future development will mainly be driven by market forces, and efforts will continue to explore the synergistic effects of different payment tools.

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