Catenaa, Wednesday, July 09, 2025-Crypto-related stocks in Hong Kong jumped sharply Tuesday as investor optimism builds around the city’s forthcoming stablecoin licensing framework set to take effect August 1.
Shares of Guotai Junan International, a Chinese brokerage firm listed in Hong Kong, surged 16% by midday. Licensed crypto exchange OSL’s stock rose 12.2%, while digital retail firm Dmall gained 8.9%. Victory Securities, another brokerage with crypto trading approval, climbed 9.2%.
The enthusiasm follows the Hong Kong Monetary Authority’s announcement that stablecoin issuers must obtain licenses under the new regime, aimed at regulating fiat-referenced stablecoins. Several traditional finance players have expressed intent to apply for licenses, signaling growing institutional interest.
Hong Kong’s Financial Secretary Christopher Hui told local media that stablecoin licenses may be issued this year, though the number is expected to remain in the single digits.
The rising stablecoin focus echoes remarks from China’s central bank governor Pan Gongsheng, who recently highlighted stablecoins and central bank digital currencies as reshaping global payment systems.
While initially designed for Hong Kong dollar-pegged stablecoins, local discussions increasingly focus on offshore yuan-pegged stablecoins. Chinese tech giants JD.com and Ant Group have reportedly lobbied China’s central bank for approval of yuan-based stablecoins amid intensifying global competition.
The new licensing framework marks a key regulatory milestone for Hong Kong’s ambitions to become a global crypto hub, fueling investor confidence in listed crypto and fintech companies.
