Chinese Crypto Stocks Advance on HK Stablecoin Legislation

Blockchain and cross-border payment stocks in Hong Kong and mainland China rise, with stablecoin legislation expected to come into effect this year that may help Hong Kong become an international Web3 and digital finance center, according to China’s GF Securities.

• Sectors receiving a short-term boost from the HK legislation may include digital currencies, cross-border payments, blockchain and real-world asset tokenization, GF analysts including Liu Chenming write in a note
• OKG Technology rises as much as 12% in Hong Kong, China Everbright +12%; Guangzhou KingTeller Technology and Hengbao rise by 10% limit in mainland trading, Lakala Payment +10%
• Stablecoins may to ...