Wu Jiezhuang: Hong Kong to Issue First Batch of Stablecoin Issuer Licenses in March, Suggests Promoting Usage Through Airdrops

Odaily News Hong Kong Legislative Council member Wu Jiezhuang stated on the "Finance CHAT" program that Hong Kong is expected to issue its first batch of stablecoin issuer licenses in March. He suggested that after relevant institutions obtain their licenses, the government could distribute consumption vouchers in the form of stablecoins to eligible citizens for use at local small and medium-sized enterprises (SMEs) to promote the adoption of stablecoins in Hong Kong.

Wu Jiezhuang pointed out that this initiative could draw lessons from the previous experience of promoting electronic payments through e-consumption vouchers. By creating use cases for stablecoins, it could stimulate the local economy and enhance Hong Kong's positioning in the fields of Web3 and digital assets. He mentioned that the related administrative costs could be borne by the licensed institutions. (Techub News)