# Hong Kong's Cryptocurrency Era: Stabilized Currency Ordinance Leads to New Investment Opportunities in Hong Kong Stocks

**On June 3, 2025, the Hong Kong stock market staged an amazing scene**: cryptocurrency concept stocks surged collectively! Oculus Cloud Chain surged over 11% at the beginning of the trading session, followed by Xiongan Technology, which rose over 5%. Cryptocurrency ETFs such as Huaxia Ether and BofA Ether rose at the same time, with all of them gaining close to 5%. This strong rebound was no coincidence, and it is precisely the "Stable Currency Ordinance" that will be enacted soon in Hong Kong that has set off the market's fuse.... -On August 1, 2025, this revolutionary new regulation will come into effect!

## ▌Hong Kong's Breakthrough Under the Wave of Global Regulation
While the U.S. GENIUS Act has been stalled, Hong Kong has taken the lead in showing its regulatory cards! The Stabilized Currency Ordinance addresses the industry's pain points:
- **Transparency of reserve assets**: mandatory disclosure of reserve details by stable money issuers.
- **Bank-level custody requirements**: assets must be held in custody by compliant institutions to eliminate the risk of misappropriation.
- **Legalization of cross-border payments**: paving the way for cross-border circulation of digital currencies.

This makes Hong Kong the first financial center in Asia to legislate for a stable currency. Standard Chartered Bank, Animoca Brands and PCCW have formed a joint venture to apply for the HKMA's stablecoin issuance authorization. The global stable money market has reached US$250 billion, and Hong Kong companies are now entering the market with a knife!

## ▌RWA+Stable Coin: Trillion-Dollar Convergence Revolution
The most disruptive effect of the new law is that it opens the vein of "Real World Asset Monetization" (RWA):

(Strict adherence to the core of the material)

  • Real estate, bonds and other traditional assets can be converted into chained tokens
  • Stabilized Currency Becomes 'Super Lubricant' for RWA Cross-Border Circulation
  • Green Finance, Supply Chain Finance Toward Automated Global Allocation
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Chung-Ang On-Line (06060) Associate ZABank Has Snagged Core TracksAs the first digital bank to provide reserve banking services to Hong Kong stablecoin issuers, its partnership with Elements is seen as the first wave of beneficiaries of the policy dividend.

▌Six Conceptual Stocks Capture the Policy High Ground

OSL Group (00863): Hong Kong's version of "Coinbase".

As the leading compliant exchange, OSL has partnered with Ethena to launch stable money interest products, directly addressing the huge demand after the implementation of the Ordinance. The scarcity of exchange licenses gives it a moat advantage.

China Everbright Holdings (00165): Invisible Champion

Long position in Circle, a global stablecoin giant, will continue to unlock its investment value as the compliance process accelerates. Everbright's role as a bridge between traditional finance and digital assets is irreplaceable.

❸ BOCOM-SW (09618): Tech Giants Turning the Corner

The HKD/USD 1:1 anchor stablecoin is being tested in the sandbox. With hundreds of millions of users, Jingdong Stablecoin is expected to be the first to break through in the e-commerce payment scene.

❹ Connect Digital (02598): Cross-Border Payment Dark Horse

Subsidiary Lianlian International has developed a cross-border payment solution in stable currency in cooperation with Elements Technology, and also holds a VATP license in Hong Kong, which is a remarkable dual-qualification scarcity.

A Critical Decision Period of Risk and Opportunity

Despite all the hype in the market, investors should remain vigilant:

(Strictly based on material risk warning)
- Policy details are still uncertain and may cause volatility during the transition period.
- High volatility of the crypto market has not fundamentally changed
- It takes time to verify the actual business conversion of enterprises.

Historic Opportunities Often Arise at Regulatory Turning PointsThe real dividends will be concentrated when the Ordinance comes into force in August. As participants in the HKMA's sandbox program emerge, the real dividends for the industry will be released in August when the regulations come into force. Those enterprises that have positioned themselves in the compliance infrastructure in advance are weaving an ecological value network covering issuance, custody and trading - perhaps the deep-seated code for the Hong Kong crypto sector's wild ride in June.

The market always rewards the first to read the rules. As the boundaries between traditional finance and crypto assets are melting in Hong Kong, a new round of wealth distribution has already begun. The surge you see is the result, while the real battle has been set in motion since the regulatory documents were signed.
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