香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 DL HOLDINGS GROUP LIMITED 德林控股集團有限公司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：1709） 自願性公告 (1)與ANTALPHA PLATFORM HOLDING COMPANY 之戰略合作協議；及 (2)投資5百萬美元之TETHER GOLD 本公告由德林控股集團有限公司（「本公司」，連同附屬公司統稱為「本集團」） 自願刊發，旨在向本公司股東及潛在投資者通報本集團的最新業務發展情況。 戰略合作協議 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2025年10月16日，本公司與 Antalpha Platform Holding Company（「Antalpha」）訂立不具約束力的戰略合作 協議（「戰略合作協議」）。訂約雙方均認可結合Antalpha於數字資產領域的機構 級能力與本集團於傳統金融專業及監管基礎方面的深厚經驗，將 ...

Group 1: Global Payment System Transformation - The global payment system is diversifying, moving towards a model where stablecoins and central bank digital currencies (CBDCs) play significant roles in domestic and cross-border payments[1] - Domestic retail payments will be dominated by stablecoins or a combination of stablecoins and CBDCs, while wholesale payments will be led by CBDCs[1] - Cross-border retail payments will be primarily driven by stablecoins, with wholesale payments existing alongside traditional systems and multiple CBDC collaborations[1] Group 2: Growth Potential of Stablecoins - The potential market growth for stablecoins in cross-border retail payments could reach $280 billion[2] - Asset tokenization (RWA) could see a potential development scale of $300 billion, driven by the growth of stablecoin market capitalization[2] - Stablecoins are expected to provide two levels of benefits for businesses: investment income from reserve assets and reduced transaction costs due to streamlined value chains[2] Group 3: Applications and Efficiency Gains - Non-stablecoin enterprises can leverage stablecoins to enhance operational efficiency, particularly in supply chain finance and cross-border payroll[3] - Using stablecoins for payroll can simplify cross-border remittance processes and reduce fees, especially when using a stablecoin pegged to the renminbi[3] - Companies can issue tokenized assets linked to stablecoins, improving liquidity and transparency while providing new financing avenues[3] Group 4: Regulatory Landscape and Risks - Stablecoins have been increasingly integrated into financial regulatory frameworks, marking a significant development point for their growth[1][2] - Risks include potential threats to blockchain's encryption foundation from advancements in quantitative computing and delays in stablecoin development due to incidents like the collapse of Silicon Valley Bank[5]

Core Viewpoint - The recent surge in stock prices of several Hong Kong-listed companies is attributed to their involvement in the "stablecoin concept," indicating a growing interest and investment in digital assets and blockchain technology [1][2]. Group 1: Company Developments - Puxing Energy's stock price soared over 280% after announcing its subscription to Series A preferred shares issued by HashKey Holdings, a firm focused on blockchain technology and digital asset management [1][2]. - Derlin Holdings also experienced a significant price increase, with a rise of over 70% after announcing plans to tokenize assets valued at up to HKD 500 million [1][2][3]. - Puxing Energy now holds up to 5% equity in HashKey Holdings, which is recognized as a leading digital asset financial services group in Asia [2][3]. - Derlin Holdings is in discussions with blockchain service provider Asseto to advance a project that aims to tokenize real-world assets, potentially becoming Hong Kong's first commercial property tokenization project by a licensed broker [3]. Group 2: Market Trends and Projections - The stablecoin market has surpassed USD 250 billion in issuance, with over 250 types of stablecoins, and is projected to reach a transaction volume of USD 27.6 trillion by 2024, exceeding the combined transaction volume of Visa and Mastercard [4][5]. - The regulatory landscape for stablecoins is evolving, with significant legislative progress in the EU and Asia, indicating that compliance will be crucial for market participation [5]. - The future scale of stablecoins is anticipated to reach USD 3.5 trillion, driven by various use cases including crypto assets, cross-border payments, daily consumer payments, and traditional capital market tokenization [5][6].