Hong Kong Official Wants to Convert CBDC to Stablecoin


Hong KongMember of the Special Administrative Region Legislative Council Wu Jiezhuang, Hong Kong CBDCof the DeFiHe proposed converting it to a backed stablecoin.

One of the most important issues in the crypto industry CBDC ‘s are happening. Cryptocurrencies, which are in a constant change and innovation, also open the doors of new integrations. The fact that countries are now getting involved, their regulations and CBDC He made them the main agenda item. Many countries, CBDC made progress in its work. Especially Turkey, Digital TL It has reached an important position with its success in the field. Finally Hong Kongofficials Wu Jiezhuang, Hong Kong‘Fame CBDCHe offered to convert the coin into a DeFi-backed stablecoin.

Hong Kong Official Suggests CBDC Be A DeFi-Backed Stablecoin

Hong Kongofficials, central bank digital currency ( CBDC ) is working on new models for From the authorities Wu Jiezhuanggave the message for the government-backed stablecoin with a country behind it. Jiezhuang, Hong Kong CBDCHe suggested converting .

Jiezhuang, Hong Kongdigital dollar (e- HKD) believes that converting it to stablecoin could lead to better adoption of technologies like Web3.

Moreover Jiezhuang , also talked about a few stablecoins that had a bombshell effect in the past. Talking about crashed stablecoins Jiezhuang, “All of the stablecoins currently on the market are issued by some private companies and are not subject to government scrutiny” said.

Hong Kongalong with this transformation Web3 He thinks that better access to the ecosystem can be provided. Official, CBDCthanks to stablecoin integration with DeFialso stated that it can be connected to its use.


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