GUOTAI JUNAN I fell nearly 9%, with only HSBC and Standard Chartered leading the joint venture to obtain the first batch of stablecoin issuer licenses

GUOTAI JUNAN INTERNATIONAL (01788.HK) failed to become one of the first stablecoin issuers, and its stock price retreated this morning (13th), dipping to a low of HKD 2.79 at one point, currently reported at HKD 2.82, down 8.74%, with a trading volume of 105 million shares, involving HKD 301 million. GUOTAI JUNAN INTERNATIONAL surged 48% to HKD 3.59 last Friday (10th) afternoon, closing up 28% at HKD 3.09.

The Monetary Authority announced last Friday that it granted stablecoin issuer licenses to Anchor Financial and HSBC under the Stablecoin Ordinance to issue stablecoins in Hong Kong. Anchor Financial is a joint venture established by Standard Chartered Bank, ANZ Group, and Hong Kong Telecommunications-SS (06823.HK).

Other stablecoin concept stocks were also under pressure today, with HashKey (03887.HK) currently reported at HKD 4.63, down 7.03%. ZhongAn Online (06060.HK) is currently reported at HKD 12.82, down 5.74%. OSL Group (00863.HK) is currently reported at HKD 12.94, down 9.32%. LianLian Digital (02598.HK) is currently reported at HKD 6.27, down 4.71%. Yunfeng Financial (00376.HK) also fell 7.7%