Advocates call for Hong Kong govt stablecoin to compete with Tether and USD Coin By Cointelegraph
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Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of and .
According to an English translation of a July 3 report provided by Chinese crypto reporter Colin Wu, four individuals tied to financial innovation proposed the government issue an HKDG (Hong Kong Dollar Government) stablecoin to support its leadership efforts in the digital economy. Wang Yang, vice president for institutional advancement at Hong Kong University of Science and Technology; Cai Wensheng, founder of smartphone software firm Meitu; Lei Zhibin, an honorary chair of the Hong Kong Blockchain Association; and doctoral student Wen Yizhou co-authored the paper.
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© Reuters.
Crypto and blockchain advocates have authored a report calling for the Hong Kong government to issue a stablecoin pegged to the region’s dollar, which could challenge the dominance of and .
According to an English translation of a July 3 report provided by Chinese crypto reporter Colin Wu, four individuals tied to financial innovation proposed the government issue an HKDG (Hong Kong Dollar Government) stablecoin to support its leadership efforts in the digital economy. Wang Yang, vice president for institutional advancement at Hong Kong University of Science and Technology; Cai Wensheng, founder of smartphone software firm Meitu; Lei Zhibin, an honorary chair of the Hong Kong Blockchain Association; and doctoral student Wen Yizhou co-authored the paper.
Continue Reading on Coin Telegraph
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