The city has aligned its fintech push with China's de-dollarization efforts as new stablecoin laws take effect in August.

The Hong Kong dollar was originally set at a rate of 7.8 per US dollar, although it has been allowed to trade between 7.75 and 7.85 per US dollar since 2005.

A digital currency pegged to the offshore yuan would be more workable in Hong Kong than mainland China, the central bank ...

SINGAPORE/HONG KONG, Dec 5 (Reuters) - It's what is known in the markets as a "tail risk": a highly unlikely scenario in which Hong Kong's currency peg suddenly snaps.

obverse text: 5 / 伍 / the hong kong & shanghai banking corporation / 5 伍/ promises to pay / no. H488,500 / NO. H488,500 / THE BEARER ON DEMAND / AT ITS OFFICE HERE / HONI SOIT QUI MAL Y PENSE / DIEU ...

It fell to just 44.76 billion Hong Kong dollars ($5.7 billion) by Monday, the lowest level since November 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar.

Jingdong Coinlink Technology Hong Kong Limited plans to issue a 1:1 stablecoin pegged to the Hong Kong dollar, aiming for secure and efficient payments while meeting regulatory standards.