Wu Jiezhuang proposes issuing stablecoin consumer vouchers to boost cryptocurrency use among residents and support local SMEs, reinforcing Hong Kong’s Web3 ambitions.
Hong Kong legislator Wu Jiezhuang announced the city will grant its first stablecoin issuer licenses in March. He suggested the government consider distributing stablecoin consumer vouchers to eligible residents, aiming to promote cryptocurrency adoption, stimulate small and medium-sized enterprise spending, and strengthen Hong Kong’s standing as a Web3 hub.