Ngai Kit Cheung: Hong Kong will issue the first batch of Stablecoin Issuer Licenses in March, hoping the government will airdrop stablecoins to promote cryptocurrency adoption among all citizens in the city.

On February 19, Hong Kong Legislative Council member Wu Chi-wai said on the “Finance CHAT” program of HOY Information Station 78 that Hong Kong will issue its first batch of stablecoin issuer licenses in March. He hopes the government will promote cryptocurrency adoption among all Hong Kong residents through a stablecoin airdrop. Wu noted that three years ago, the government’s issuance of HK$10,000 electronic consumption vouchers significantly boosted electronic payments. He suggested that once stablecoin issuers secure licenses, the government could airdrop stablecoins to eligible residents for use in local small and medium-sized enterprise (SME) spending—such as dining, entertainment, and theater outings. The initiative aims to enhance Hong Kong’s status as a Web3 and digital asset hub, achieving both economic stimulus and greater cryptocurrency adoption. Wu emphasized that this move is not simply the government giving away money, but using stablecoin consumption vouchers to drive a multiplier effect—with administrative costs to be covered by licensed companies. (Source: Techub News)