Advocates name for Hong Kong govt stablecoin to compete with Tether and USD Coin

Crypto and blockchain advocates have authored a report calling for the Hong Kong authorities to subject a stablecoin pegged to the area’s greenback, which might problem the dominance of and .

In keeping with an English translation of a July 3 report offered by Chinese language crypto reporter Colin Wu, 4 people tied to monetary innovation proposed the federal government subject an HKDG (Hong Kong Greenback Authorities) stablecoin to help its management efforts within the digital economic system. Wang Yang, vp for institutional development at Hong Kong College of Science and Know-how; Cai Wensheng, founding father of smartphone software program agency Meitu; Lei Zhibin, an honorary chair of the Hong Kong Blockchain Affiliation; and doctoral pupil Wen Yizhou co-authored the paper.

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