Group 1 - The establishment of the Hong Kong Virtual Asset Listed Companies Association (HKVALA) marks a new phase of institutional collaboration in the digital asset industry in Hong Kong [1] - The formation of HKVALA is driven by three main factors: policy support, market demand, and addressing industry challenges [1] - The Hong Kong government has released several key policy documents this year, including the "Hong Kong Digital Asset Development Policy Declaration 2.0" and the implementation of the "Stablecoin Regulation" [1][2] Group 2 - Despite policy support and market demand, the digital asset industry in Hong Kong faces challenges such as regulatory implementation pace and market concerns [2] - There is a dilemma in the industry where compliance does not yield profits, and profits are often made in non-compliant ways, necessitating faster regulatory processes [2][3] - Investor education is crucial, as many citizens lack understanding of digital asset products, which can lead to exploitation by fraudsters [2][3] Group 3 - The new association aims to enhance investor education, ensuring that citizens understand the nature and risks of digital asset products [3][4] - The association will also promote Hong Kong's regulatory advantages and facilitate communication between the industry and regulatory bodies [4][5] - The HKVALA is positioned to bridge traditional finance and digital asset liquidity, with a goal to solidify Hong Kong's status as an international financial center [5] Group 4 - The total market capitalization of listed companies within the association is approximately $20 billion, while the asset management scale of traditional financial institutions represented at the event exceeds $200 billion [5] - The association includes a diverse range of members from various sectors, including digital asset exchanges, traditional financial companies, and blockchain technology firms [5]

张华晨指出，据粗略估计，如果只按港股上市公司所持有数字资产的市值、投资申请合规牌照及相关运营的资金大概不超过20亿美金，而目前香港数字资产 上市公司联合会内上市公司持有的数字资产市值超过2000亿美金，未来规模还会越来越大。此外，值得一提的是，传统金融公司可以作为打通币股联动的媒 介，在未来探索数字领域发展中会起到关键作用。 智通财经APP获悉，8月27日，在香港数字资产上市公司联合会成立仪式上，全国青联委员、香港数字资产上市公司联合会会长及国富量子创新有限公司 (00290)联席CEO张华晨表示，香港数字资产上市公司联合会的成立，是香港数字资产领域发展的一座里程碑，具有非凡的意义。香港特区政府对数字资产 领域发展持开放态度，同时目前在香港的大街小巷里人们都在对币股联动可能性进行热议。 ...

Core Insights - The concept of "coin-stock linkage" involves integrating traditional business with digital currencies and blockchain technology to create new growth opportunities, enhance company valuation, and attract a new generation of investors [2] Group 1: Trends Driving "Coin-Stock Linkage" - Digital economy wave: The global digital transformation is accelerating, and the virtual asset market is expanding [2] - Optimized regulatory environment: Hong Kong's financial regulators are actively promoting the development of the virtual asset ecosystem [2] - Growing investor demand: Both traditional and emerging investors are increasingly interested in digital assets [2] Group 2: Company Profiles - Coinbase Global (NASDAQ: COIN): The largest compliant cryptocurrency exchange in the U.S., closely tied to the overall trends in the cryptocurrency market, with significant holdings in Bitcoin and Ethereum [5][6] - OSL Group (HKEX: 0863): A licensed digital asset platform in Hong Kong, reflecting the demand for compliant crypto services in Asia [6][7] - Circle Internet Financial: Issuer of the USDC stablecoin, which raised $1.05 billion through an IPO, with a market valuation of $6.8 billion [9][10] - MicroStrategy (NASDAQ: MSTR): A business intelligence company that has become the largest corporate holder of Bitcoin, with its stock price increasing by 4315.85% since its first Bitcoin purchase [11][12][13] - JD Coinchain Technology (HKEX: 9618): A subsidiary of JD.com focusing on blockchain applications, currently developing a stablecoin [14][15] Group 3: Market Management Strategies - Information disclosure strategy: Regularly publish reports on digital asset business progress and engage with investors through social media [19] - Shareholder return plans: Consider issuing digital tokens as shareholder benefits and explore blockchain-based equity management systems [19] - Strategic partnerships: Collaborate with leading blockchain projects and digital asset exchanges to enhance influence in the digital economy [19] - Talent incentives: Establish a digital asset incentive pool and implement blockchain-based employee equity incentive plans [19]

Core Insights - The roundtable discussion on stablecoins highlighted their commercial opportunities and regulatory challenges in the global financial landscape [1] - Recent U.S. legislation, including the "Genius Act" on stablecoins, the Clarity Act, and a ban on CBDCs, is expected to significantly shape the future of Web3 and cryptocurrency [4][6] Regulatory Developments - The U.S. House of Representatives passed three key bills that will impact the future of Web3, including a stablecoin bill, which is anticipated to be signed by Trump [4] - The Clarity Act clarifies that tokens on mature blockchains are classified as commodities, regulated by the CFTC rather than the SEC, and provides certain regulatory exemptions for decentralized finance (DeFi) [4][6] - The third bill prohibits the issuance of Central Bank Digital Currencies (CBDCs) in the U.S., establishing a regulatory framework for cryptocurrencies [4][6] Stablecoin Characteristics - Stablecoins are not considered traditional currency; they function as a peer-to-peer payment system without a balance concept, serving as a bridge between Web2 and Web3 [2][7] - The issuance of stablecoins is relatively accessible, allowing various assets to be pegged, including fiat currencies, gold, and receivables [2][7] - The potential for stablecoins to revolutionize financial transactions lies in their ability to facilitate low-cost, high-speed transactions, with costs as low as one-thousandth of a cent [10] Market Potential and Challenges - The market for Real World Assets (RWA) is projected to reach trillions of dollars by 2030, indicating significant investment opportunities [3][12] - Hong Kong's efforts to issue stablecoins and create a robust on-chain financial ecosystem are underway, despite challenges in attracting users to local stablecoins compared to USD-pegged options [3][8] - The concept of tokenization is seen as a transformative force, enabling instant settlement and reducing friction costs in traditional finance [11][12] Future Outlook - The development of cross-chain technology and data integration is crucial for the evolution of the blockchain ecosystem, with significant market opportunities anticipated [13][14] - The ongoing interest in "coin-stock linkage" and "chain-stock linkage" reflects a growing trend in capital markets, driven by the potential of blockchain technology [14]

MSTR买BTC，SBET买ETH，WINT买BNB…上市公司正在成为加密资产进入传统金融的“触手”但这只是开始想一下，当“持币”成为上市公司的标配，就像现在家家都有官网一样，这招还怎么吸引投资者？当所有人都这么做时，这个故事就讲不通了这时候要绑定币圈的情绪和估值，光“拿着”远远不够，必须“深度参与”未来，SBET可能要围绕它的ETH资产，搭一条自己的链，开发一系列自己的DeFi应用，它们需要构建自己的护城河而这，正是 Caldera ( $ERA ) 发挥作用的地方。从零开发一条链，对传统公司是非常麻烦的事。但Caldera提供了一个“一键发链”的工具箱，它让这些公司能以极低的成本，快速部署自己的专属Rollup链。模块化设计，就像乐高积木，可以灵活定制；同时支持BSC和ETH，保证了这些新建的链还能互相操作，形成一个互联互通的网络从“买币的公司”进化到“发链的公司”，这才是币股联动想象力的真正升华。Caldera铺设的，正是通往这个终局的底层高速公路而且 $ERA 上所大满贯也是完全配得上优质的融资背景了，现在就像CZ说的Hold and become rich，这一波BNB holder们不仅享受到了B ...