Group 1 - Digital asset-related concept stocks have gained significant attention in the Hong Kong stock market, leading to substantial price increases for companies involved in related businesses or plans [1] - On July 10, a company saw its stock price double after subscribing to Series A preferred shares issued by a digital asset financial company, with shares of Puxing Energy soaring over 280% at one point, closing up 141.38% [2][4] - Puxing Energy announced that it has subscribed to Series A preferred shares of HashKey Holdings Limited, aiming to explore new business collaborations for diversification and sustainable development [6] Group 2 - Several Hong Kong-listed companies have experienced significant stock price increases after signing agreements or planning to apply for stablecoin licenses, such as Jinyong Investment, which saw its stock price surge over 650% following a strategic cooperation memorandum with AnchorX [7][8] - The Hong Kong Stablecoin Regulation will officially take effect on August 1, establishing a comprehensive regulatory framework for fiat-backed stablecoins, which is expected to pave the way for the future development of fintech in Hong Kong [9][10] - The implementation of the stablecoin regulatory framework marks a transition for the global digital asset market from experimental plans to active promotion, although some companies may engage in "hype" behavior to attract market attention without substantial improvements to their profitability [10]

7月10日，又有公司在认购数字资产金融公司发行的A系列优先股的情况下，股价翻倍上涨。 一笔认购引起股价暴涨 港股普星能量今日开盘后一度暴涨超280%，最高价达到2.24港元/股。截至收盘，该公司的股价仍上涨141.38%。 近期，数字资产相关概念股引起港股市场投资者的极大关注，涉及相关业务或计划涉及相关业务的公司股价大幅走高。 普星能量认为，通过认购事项与HashKey Holdings Limited及其子公司探索新业务领域合作，有利于集团业务的多元化及持续发展。紧随认购事项完成后， 公司持有不多于5% HashKey Holdings Limited的股权，成为HashKey Holdings Limited的股东。认购事项完成后，对集团的业务、运营及财务状况并无重 大影响。 HashKey Holdings Limited连同其子公司（HashKey集团）是亚洲领先、全球布局的数字资产金融服务集团。自2018年起，HashKey集团已在高合规标准的 监管框架内构建起一个遍布中国香港、新加坡、日本、百慕达、迪拜等地的全球化Web3生态版图，专注于投资区块链技术、数字资产的全球化资产管理及提 供合规数字资产 ...

Core Insights - The global stablecoin market is projected to grow from $230 billion in 2025 to $1.6 trillion by 2030, driven by clearer regulatory frameworks [1][2] - The U.S. GENIUS Act and Hong Kong's recent stablecoin regulations signify a shift from fragmented to systematic regulation, enhancing compliance and consumer protection [2] Regulatory Developments - The GENIUS Act fills regulatory gaps for fiat-backed stablecoins, establishing a compliance framework that includes reserve asset isolation, redemption guarantees, and anti-money laundering (AML) requirements [2] - Stablecoin issuers must hold at least $1 in high liquidity assets, such as cash or U.S. Treasury bills, for every $1 of stablecoin issued, and are subject to regular audits [2] - The Act prohibits interest-bearing stablecoins and restricts foreign issuers from entering the U.S. market, clarifying the legal status of stablecoins as neither securities nor commodities [2] Market Reactions - Major financial institutions, including Bank of America and Morgan Stanley, are exploring stablecoin offerings and crypto-related transactions, indicating a cautious yet optimistic approach to regulatory changes [4] - Charles Schwab's CEO noted that regulatory signals are favorable for launching spot cryptocurrency trading within a year [3] Technological Implications - The emergence of stablecoins represents a paradigm shift in the U.S. dollar clearing system, moving away from traditional SWIFT networks to blockchain-based solutions [5] - This technological advancement allows for broader international use of the dollar, embedding it in various compatible distributed payment systems [5]