Hong Kong Legislative Council member Wu Jietzhuang: Has suggested the Monetary Authority issue digital Hong Kong dollars in the form of "stablecoins."

2023-04-11 22:47:25

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ChainCatcher news, Hong Kong Legislative Council member and co-founder of the startup accelerator G-Rocket, Wu Jiezhuang, led the establishment of the Hong Kong "Web3Hub" fund this week. He stated that he has suggested to the Hong Kong Monetary Authority to issue a digital Hong Kong dollar in the form of a "stablecoin," which will help promote future online cross-border transactions and reduce the risk of financial crises.

Wu Jiezhuang continued to say that if the Hong Kong government can create another milestone by becoming the world's first official issuer of a stablecoin, backed by cash to enhance stability, it could avoid bankruptcy turmoil and also bring the Hong Kong dollar into the Web 3.0 market. (Source link）

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