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BiyaPay Analyst: Stablecoin Concept, Hong Kong Stocks Plunge Together, First Batch of License Applications Pace Slower Than Expected
According to a report by BlockBeats, on July 30, the concept of Hong Kong stock stablecoins collectively experienced a decline. As of the time of writing, OSL Group (00863) dropped by over 8%, FinEX Asia-W (09959) and Diginex (02586) both fell by over 5%, and Guotai Junan International (01788) dropped by nearly 4%. The market's uncertainty regarding regulatory policies has sent a cautious signal, putting pressure on related stocks.
The news indicates that the Hong Kong Monetary Authority will officially implement a stablecoin issuer regulatory regime starting on August 1. Institutions must contact the Monetary Authority by August 31 and submit their applications by September 30. CITIC Securities pointed out that the overall progress is slightly slower than the market expected, and the first batch of licenses is expected to be issued by the end of the year.
Eddie Yue, the Chief Executive of the Monetary Authority, stated that in the first phase, stablecoin issuers will be rigorously screened, emphasizing the importance of use cases and operational capabilities, and warning the market to be cautious of excessive speculative sentiment.
Against the backdrop of gradually clarified policies and increased market volatility, BiyaPay has already supported participation in Hong Kong and US stock trading directly through USDT. Users do not need to open offshore accounts and can achieve real-time fund transfers and rapid position building, providing a more flexible allocation channel for investors interested in the stablecoin and traditional finance integration trend.
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