智通财经网·2025-06-12 00:12Group 1: Legislative Developments - The U.S. Senate passed a procedural motion for the "GENIUS Stablecoin Act" with a vote of 68 to 30, paving the way for a final vote as early as next Monday, unless an agreement is reached to shorten debate time [1] - The act mandates that stablecoins must be fully backed by U.S. dollars or equivalent high-liquid assets, and issuers with a market cap exceeding $50 billion will undergo annual audits [1] - U.S. Treasury Secretary Yellen indicated that the demand for stablecoin legislation could exceed $2 trillion, emphasizing the government's commitment to maintaining the dollar's status as a reserve currency [1] Group 2: Market Implications - According to a report from CITIC Securities, stablecoin holders will benefit from a currency that combines transaction convenience, privacy, and extreme price stability, marking a new era in transaction payments [1] - The favorable trading attributes of stablecoins suggest a potential shift towards a more stable development era for stablecoins, as governments in the U.S. and Hong Kong begin to regulate and guide the market [1] Group 3: Related Companies in Hong Kong - ZhongAn Online (06060) is a core player in the Hong Kong stablecoin concept, with its joint venture ZA Bank being the first local digital bank to provide reserve banking services for stablecoin issuers [2] - Huaxing Capital Holdings (01911) announced that its managed fund successfully facilitated the IPO of Circle Internet Group, marking a significant event in the global stablecoin sector [2] Group 4: Collaborations and Innovations - OSL Group (00863) is a compliant exchange in Hong Kong, collaborating with Ethena to launch stablecoin yield products [3] - China Everbright Holdings (00165) is a key investor in Circle, having participated in a $60 million Series D funding round in 2016 [3] - Standard Chartered Bank (02888) and PCCW (00008) announced a partnership to explore stablecoin issuance, aiming to leverage their combined expertise and technology [3] - JD Group-SW (09618) is in the second phase of sandbox testing for its stablecoin, which will be pegged 1:1 to fiat currencies like the Hong Kong dollar and U.S. dollar [3] Group 5: Cross-Border Payment Initiatives - LianLian Digital (02598) is involved in a project with Yuan Coin Technology to apply stablecoins in cross-border payment scenarios [4] - LianLian's subsidiary DFX Labs has obtained a Hong Kong VATP license, marking its entry into the crypto space [4]