Wu Jiezhang: The development of stablecoins in Hong Kong will move forward steadily, and different industries can boldly attempt to combine RWA and Web3

Hong Kong Legislative Council member Wu Jietzhuang posted on X platform, stating that he will continue to promote the development of Web3 in Hong Kong. His views on the future direction of stablecoins, RWA development, and more are as follows:

He believes that there will be no significant changes in the development of stablecoins in Hong Kong, which will continue to move forward steadily. The stablecoin regulatory bill was passed in the seventh Legislative Council after a long period of deliberation and discussion. The overall development will align with the international and local financial environment in Hong Kong, progressing steadily, starting with local market trials and aiming to develop the international market, leveraging Hong Kong's position as a financial and innovation hub.

RWA is a topic that is currently being discussed extensively in both traditional and Web3 industries. Hong Kong has already promoted a regulatory sandbox, and it is believed that the sandbox will explore the importance of compliant development and the future direction of regulation. It is thought that different industries can boldly attempt to integrate Web3 technology, which is expected to drive the development of numerous real-world applications.

The demand for developers is rapidly increasing. More and more companies are setting up in Hong Kong, including Web3 public chains, compliant trading platforms, and underlying infrastructure. The success of developers is closely linked to innovative technology companies, and in the future, efforts will be made to assist the industry in building a talent ecosystem to attract more developers and professionals to settle in Hong Kong.