HK Stock Market Move | Concept stocks related to Bitcoin are collectively rising, Hong Kong stablecoin licenses are about to be issued, and the industry standardization process is accelerating.

Concept stocks related to Bitcoin collectively rose, as of the time of writing, OSL GROUP (00863) rose by 8.33% to 14.18 Hong Kong dollars; OKG TECH (01499) rose by 6.63% to 0.193 Hong Kong dollars; YUNFENG FIN (00376) rose by 5.24% to 2.81 Hong Kong dollars; SINOHOPE TECH (01611) rose by 3.72% to 2.51 Hong Kong dollars. On the news front, on February 25th of this year, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan Mo-po, stated that Hong Kong has implemented a licensing regime for issuers of fiat-backed stablecoins and will issue the first batch of licenses in March. The government and financial regulatory authorities will continue to promote licensed issuers to explore more application scenarios in compliance and risk control. It was reported recently that the first batch of stablecoin licenses will be obtained by HSBC, Standard Chartered, and local virtual asset trading platform OSL. HAITONG INT'L released a research report stating that with the implementation of the "Stablecoin Regulations" in Hong Kong, the continuous improvement of the regulatory framework, and the issuance of the first batch of stablecoin licenses, the industry standardization process is accelerating. The Hong Kong dollar-linked stablecoins are expected to extend from the encrypted native scene to broader areas such as cross-border payments, opening up long-term growth opportunities in the industry.