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Summary of Stablecoin Market Conference Call Industry Overview - The stablecoin market is currently in its early stages, with significant growth potential in both time and space, similar to the development of internet finance and digital currencies [1][2] - Financial innovation policies are the core driving force behind the development of stablecoins, with Hong Kong's policy advantages providing opportunities for related companies in the Hong Kong stock market [1][3] Key Insights and Arguments - The stablecoin market is expected to reshape the cross-border payment system and other trillion-dollar industries, indicating a potential for explosive revenue and profit growth [1][4] - Current market focus is on bank IT and card business companies, but payment scenarios, supply chain finance, and licensed entities in Hong Kong are anticipated to be the next areas of significant growth [1][8] - The stablecoin industry chain includes issuers, exchanges, and wallets, with key players concentrated in Hong Kong, such as JD.com, ZARA Yuan Coin, and Ant Group [1][9] Market Dynamics - The current stablecoin market is still in a very preliminary stage, with institutional-led stock price increases not exceeding three times, compared to previous surges in internet finance and digital currencies [2] - The last rounds of digital currency and internet finance booms were driven by relaxed financial innovation policies, which are also the foundation for the current stablecoin development [2][3] Potential Companies and Sectors - Key players in the stablecoin infrastructure include issuers like JD.com, ZARA Yuan Coin, and Ant Group, with significant opportunities in supply chain finance and trading platforms like OSL Group [10][11] - In the wallet sector, companies such as WeChat, Alipay, Zhong'an Bank, and Yao Cai Securities are noteworthy [9][12] Application Scenarios - Stablecoin applications include cross-border trade payments, RWA (Real World Assets) tokenization, supply chain finance, and stock tokenization, with cross-border payment being the most critical area [12] - Companies like New Guodu, New Continent, and Lakala have substantial growth potential in international cross-border trade payment due to exchange rate fluctuations and currency conversion costs [12] Investment Strategy - The stablecoin market is still in its early stages, and investors are encouraged to actively position themselves in related stocks, particularly in the Hong Kong market focusing on infrastructure, while in the A-share market, emphasis should be on application scenario-related stocks [14] - The overall market is expected to have significant explosive potential, but investment strategies should be based on individual judgment due to high volatility and the time required for profit realization [14]