Wu Jiezhuang: Hong Kong to Issue First Stablecoin Issuer Licenses in March, Aiming to Promote Cryptocurrency Adoption Through Airdrops

Hong Kong Legislative Council member Wu Jiezhuang stated that the city will issue its first stablecoin issuer licenses in March. The plan is to encourage residents to use cryptocurrencies through stablecoin airdrops, thereby enhancing Hong Kong's position in the Web3 and digital asset sectors, while also stimulating the economy and promoting cryptocurrency adoption.

According to BlockBeats, on February 19, Hong Kong Legislative Council member Wu Jiezhuang said on the 78 HOY Info Channel's "Finance CHAT" program that Hong Kong will issue its first stablecoin issuer licenses in March. He hopes the government can promote cryptocurrency use across the city through stablecoin airdrops.

Wu Jiezhuang pointed out that three years ago, the government distributed electronic consumption vouchers of HKD 10,000 per person, which significantly increased electronic payment adoption. He suggested that once stablecoin licenses are granted, the government could distribute stablecoin airdrops to qualified residents for local small and medium-sized enterprise (SME) spending (such as dining, entertainment, shows, etc.), thereby elevating Hong Kong's status as a Web3 and digital asset hub and achieving a dual goal of stimulating the economy and promoting cryptocurrency adoption.

Wu Jiezhuang emphasized that this move is not simply about government handouts but aims to generate a multiplier effect through stablecoin consumption vouchers, with administrative costs covered by licensed companies.