The concept stocks of stablecoins in the Hong Kong stock market continue to be active, with OSL GROUP surging 15% on increased volume, reaching a new four-year high.

On July 8, Gelonghui reported that stocks related to the Concept of stablecoins in the Hong Kong stock market continue to attract funds. Among them, OSL GROUP (0863.HK) briefly surged by 15%, reaching HKD 18.08, a new high since July 2021. As of now, the trading volume has expanded to HKD 0.21 billion. OSL GROUP has accumulated over a 117% increase this year. In terms of news, the Hong Kong Stablecoin Ordinance will take effect in August. The Secretary for Financial Services and the Treasury, Christopher Hui, stated that the Monetary Authority is currently consulting the market on the implementation guidelines for the ordinance, which will be announced this month. The guidelines will involve anti-money laundering and other related requirements. He also indicated that the number of licenses granted for stablecoins will be in single digits, with hopes of receiving applications after the ordinance takes effect, aiming to issue licenses within this year. OSL GROUP is a Hong Kong-listed company focused on digital Assets, and its OSL Digital Securities Limited is the first licensed digital asset trading platform in Hong Kong. OSL GROUP previously stated that while the company does not issue stablecoins, stablecoins already play an important role in the company’s Operation. The company will gradually promote and list major stablecoins. The group embraces compliant stablecoins and will support more stablecoins through its platforms in Hong Kong, Japan, and Australia, including distribution and custody, to provide better liquidity for stablecoins.