Xu Zhengyu: Hong Kong is exploring ways to increase the usage limit of the digital RMB wallet and will implement specific plans and timelines

ChainCatcher news, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Cheng-yu, stated that the Monetary Authority has been maintaining close communication with the Digital Currency Research Institute of the People's Bank of China and the local subsidiaries of mainland operating institutions in Hong Kong. The acceptance of digital renminbi at local retail points in Hong Kong is gradually increasing. The Monetary Authority will continue to work with the People's Bank of China to promote the cross-border pilot process of digital renminbi in Hong Kong. Currently, discussions are underway regarding the upgrade arrangements and feasibility of digital currency wallets to increase the usage limit of digital currency wallets, with specific plans and timelines to be implemented.