Nvidia(US:NVDA) Changjiang Securities·2025-06-17 01:16Investment Rating - The report maintains a "Positive" investment rating for the industry [8] Core Insights - The global stablecoin market is experiencing significant growth, with circulation increasing from less than $120 billion in early 2023 to $215 billion in Q1 2025, and on-chain transaction volume reaching $5.6 trillion in 2024, equivalent to 40% of Visa's payment transaction volume [36][38] - Major players like Stripe and Ant Group are actively promoting the adoption of stablecoins in various payment scenarios, indicating a shift from crypto trading markets to broader digital payment applications [36][48] - The report highlights the importance of companies with issuance qualifications, technological accumulation in blockchain, and relevant licenses as key investment opportunities [7][48] Summary by Sections Market Performance - The computer sector experienced a decline of 2.17% last week, ranking 30th among primary industries in the Yangtze River region, with a market share of 9.37% in total trading volume [2][5][12] Key Developments - OpenAI announced the official launch of o3-pro, which is now available to Pro and Team users, showcasing advancements in AI capabilities [21][24] - Quantum computing is at a turning point, with significant advancements being made, as noted by NVIDIA's CEO Huang Renxun [25][30] Investment Recommendations - The report recommends focusing on companies with issuance qualifications, those with technological expertise in blockchain, and firms holding relevant licenses as potential investment opportunities in the stablecoin sector [7][48]