September 01, 2025
By Our Correspondent
The oldest institution in Hong Kong is investigating the usage of digital currencies for donations and tuition payments through its business school.
With the Stablecoins Ordinance going into force on August 1, the city is trying to strike a balance between its goals as a hub for virtual assets and the need to reduce financial risks. This is the move made by the University of Hong Kong’s (HKU) business school.
At a seminar earlier last week, HKU’s business and economics faculty dean, Professor Cai Hongbin, urged support for the plan.
“All the technical details have been sorted out. We will take bitcoin and digital currencies for tuition fees and donations in the future,” Cai said at the CryptoFi Forum on Wednesday, according to an online video verified by the school.
“The faculty’s money will be lost if we incur a loss. Let’s try it at least, but it’s okay, we can handle it.
Zhao Changpeng, the founder and biggest shareholder of cryptocurrency exchange Binance, attended the forum at HKU. He previously said Hong Kong had the potential to become a major hub for virtual assets, on par with the US and the UAE, but that the government needed to take immediate action.
According to Professor Cai Hongbin, the business school must try the initiative.
The business school confirmed on Friday it was “actively exploring” using virtual currencies to pay tuition and make donations.
According to the school, the action would show that it is willing to accept the expanding financial innovation.
A spokesperson stated, “HKU Business School is committed to establishing a safe and sustainable environment for promoting research, development, regulation, and real-world adoption of digital currencies in partnership with our partners.”
Lawmaker Johnny Ng Kit-chong claimed that although the technique has been used for a long time in many nations, Hong Kong has been sluggish to embrace digital currencies for routine transactions due to a lack of understanding.
He stated that although the price of bitcoin fluctuates, the risk can be mitigated by changing it to local money. If not, it can be used as an investment instrument.
“However, it is crucial that the institutions complete the [know your customer] procedure to make sure the digital wallet isn’t connected to any illicit activity or money coming from unidentified sources.”
Ng went on to say that consumers have a variety of easy ways to pay when they used digital currency in regular transactions.
This trend is unavoidable, after all. Everybody is doing it.
The Securities and Futures Commission, which oversees the market, has now granted licenses to eleven virtual asset trading platforms.
