Liu Yu believes that initiating testing in areas such as cross-border payments, supply chain management, and capital markets is a wise decision. He emphasizes the potential of stablecoins in various scenarios, planning to expand the testing range after the first phase of trials is successful and communication with regulators is well established. Considering that stablecoins require full reserve backing and may generate interest income, it is anticipated that profitability can be achieved as the product matures and scales up. Although there are internal targets, specific progress also needs to take into account market dynamics and other factors. Circle Technologies insists on Hong Kong's handling of digital and tokenized asset transactions independently. Given that most global stablecoins are priced in US dollars, issuing a Hong Kong dollar stablecoin is a natural choice for Hong Kong's financial hub.