Hong Kong lawmaker wants to turn CBDC into stablecoin with DeFi
A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point for Web3 compared to private stablecoins.
![Hong Kong legislator wants to transform CBDC in stablecoin with DeFi](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-01/884fe25e-492e-4515-bd19-39720c442751.jpg)
![Hong Kong lawmaker wants to turn CBDC into stablecoin with DeFi](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvODg0ZmUyNWUtNDkyZS00NTE1LWJkMTktMzk3MjBjNDQyNzUxLmpwZw==.jpg?#)
A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point for Web3 compared to private stablecoins.
![Hong Kong legislator wants to transform CBDC in stablecoin with DeFi](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-01/884fe25e-492e-4515-bd19-39720c442751.jpg)
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