ChainCatcher reports that, according to Daily Economic News, from May 29 to May 30, over a dozen securities firms, including CITIC Securities, Guotai Haotong, China Merchants Securities, Guojin Securities, Dongwu Securities, Western Securities, and Guosheng Securities, held 13 roadshow meetings with "stablecoin" as the key term. In the next few days, securities firms such as CICC and Guangfa Securities will also hold telephone conferences related to stablecoins. The industry believes that the recent rapid market expansion of stablecoins is closely related to multiple catalysts:
- Recently, the Hong Kong Legislative Council passed the "Stablecoin Regulation Bill" (hereinafter referred to as the "Bill"), marking Hong Kong as the first jurisdiction to establish a comprehensive regulatory framework for fiat stablecoins.
- Circle Internet Group, the issuer of USDC, the world's second-largest stablecoin, recently disclosed its IPO terms, planning to list on the New York Stock Exchange and raise up to $624 million.
- Recently, the U.S. "GENIUS Act" (Guiding and Establishing American Stablecoin National Innovation Act) made significant progress in the Senate. Once the bill passes, it may promote institutional investment growth in stablecoins.
Among these, the passage of the "Bill" has attracted the most market attention. The Hong Kong Special Administrative Region Government's Shanghai Office recently published an article stating that the "Bill" is expected to take effect this year. In the future, anyone issuing fiat stablecoins in Hong Kong during business operations must apply for a license from the Financial Management Commissioner, and only fiat stablecoins issued by licensed issuers can be sold to retail investors.
