TechFlow News: On February 19, Hong Kong Legislative Council member Dr. Gary Wu stated on the “Finance CHAT” program broadcast by 78 HOY Information TV that Hong Kong will issue its first batch of stablecoin issuer licenses in March. He urged the government to promote widespread adoption of cryptocurrencies among Hong Kong residents through stablecoin airdrops.
Dr. Wu noted that three years ago, the government’s distribution of HK$10,000 electronic consumption vouchers per person significantly boosted the adoption of electronic payments. He suggested that, once stablecoin issuers obtain their licenses, the government could distribute stablecoin airdrops to eligible residents for use at local SMEs—including restaurants, entertainment venues, and theaters—to reinforce Hong Kong’s status as a Web3 and digital asset hub, thereby achieving dual objectives: stimulating the economy and accelerating cryptocurrency adoption. Dr. Wu emphasized that this initiative is not merely about direct cash handouts but rather leverages stablecoin-based consumption vouchers to generate a multiplier effect, with administrative costs borne by licensed issuers.
