HK Stock Market Move | YEAHKA (09923) rises by over 10% again, the company receives a payment license from MTL in the US, cross-border payments are expected to open up growth opportunities.

YEAHKA (09923) surged by 27% yesterday and rose by over 10% in early trading today. As of the time of writing, it has increased by 10.79% to 10.58 Hong Kong dollars, with a trading volume of 163 million Hong Kong dollars. In terms of news, YEAHKA recently obtained a Money Transmitter License (MTL) payment license from the financial regulatory department of the state of Arizona in the United States. It is reported that since 2021, the company has been exploring overseas markets and has successively obtained payment licenses and related qualifications such as Hong Kong MSO, Singapore MPI, and US MSB. In 2024, YEAHKA's overseas business had an annual transaction volume exceeding 1.1 billion yuan, nearly five times higher than the previous year. It is worth noting that Haitong Securities pointed out that the People's Bank of China and four other departments have proposed to enhance the functionality and global network coverage of the Renminbi Cross-Border Payment System (CIPS), and to encourage more banks to join CIPS. In addition, the State Council has deployed measures to implement the strategy of enhancing free trade pilot zones and promoting high-level opening up to the outside world. This policy direction is expected to support the cross-border payment industry to open up new growth space. It is reported that YEAHKA owns the cross-border payment business brand YeahPay, and with policy support, the company's cross-border payment business is expected to see good development momentum.