Understanding the Market | Stablecoin concept performs actively, GUOTAI JUNAN I rises nearly 5%, ZA ONLINE rises over 4%
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The concept of stablecoins is performing actively, with GUOTAI JUNAN I rising 4.97% to HKD 6.12, and ZA ONLINE increasing 4.57% to HKD 19.24. The President of the Hong Kong Monetary Authority, Richard Yu, stated that the "Stablecoin Regulation" will take effect on August 1, and a summary of the licensing system for stablecoin issuers will be announced. Zheshang Securities pointed out that stablecoins enable low-cost and efficient transactions through blockchain, and the process of compliance will promote the development of real-world assets
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