Wu Jie Zhuang: Hong Kong will issue the first batch of stablecoin issuer licenses in March, aiming to promote usage through stablecoin airdrops.

Deep Tide TechFlow News, February 19 — Hong Kong Legislative Council Member Wu Jiezhuang stated on the “Finance CHAT” program on 78 HOY News that Hong Kong will issue the first stablecoin issuer licenses in March, hoping that the government will promote cryptocurrency usage across the city through stablecoin airdrops.

Wu Jiezhuang pointed out that three years ago, the government issued electronic consumption vouchers of HKD 10,000 per person, which significantly popularized electronic payments. He suggested that after stablecoin issuers obtain their licenses, the government could distribute stablecoin airdrops to eligible citizens for local small and medium-sized enterprise (SME) consumption (such as dining, entertainment, watching shows, etc.), thereby enhancing Hong Kong’s status as a Web3 and digital asset hub and achieving a dual benefit of stimulating the economy and promoting cryptocurrency adoption. Wu Jiezhuang emphasized that this move is not simply the government giving out money, but rather using stablecoin vouchers to drive multiplier effects, with administrative costs covered by licensed companies.