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Shi Ziyuan of Huaxing Capital: The implementation of Hong Kong's stablecoin regulations will attract more mainstream institutions to enter the digital asset financial ecosystem
星球君的朋友们
Odaily资深作者
Yesterday 12:33
This article is about 1727 words, reading the full article takes about 3 minutes
Promote innovation and steady development of the industry, and help Hong Kong build a global digital asset center.

On August 1, 2025, the Hong Kong Stablecoin Ordinance officially came into effect. The Hong Kong Monetary Authority (HKMA) set a six-month transition period and expects to issue the first stablecoin issuer license early next year. Regarding license issuance, the HKMA emphasizes compliance, specificity, and sustainability, requiring applicants to meet regulatory requirements and demonstrate specific business plans and application scenarios. Overall, the ordinance establishes the legal foundation and regulatory framework for the implementation and promotion of stablecoins in Hong Kong, ushering in a clearer and more predictable development environment for Hong Kong's digital asset industry.

In this regard, Shi Ziyuan, Head of Proprietary Investment at Huaxing Capital, believes: "Through the Digital Asset Declaration 2.0, the Stablecoin Ordinance, and the Licensing Guidelines, Hong Kong continues to inject confidence and vitality into the healthy development of the digital asset industry. The legalization and compliance of stablecoins will help attract more mainstream institutions, high-quality capital, and innovative companies to enter the market, promoting the development and maturity of Hong Kong's digital asset industry financial ecosystem."

Previously, China Renaissance successfully invested in Circle Internet Group and has provided IPO and multiple rounds of financing services to numerous leading digital asset companies. In June 2025, China Renaissance Capital Holdings (01911.HK) announced that its board of directors had resolved to formally enter the Web 3.0 and digital asset sectors while consolidating Huaxing's existing businesses. The board also approved a total budget of US$100 million over the next two years to develop the group's Web 3.0 business and invest in digital assets.

This decision marks China Renaissance's first step in the Web 3.0 and digital asset sectors, responding to the Hong Kong government's recent rollout of proactive policies supporting the development of the Web 3.0 and digital asset industries, and spearheading the advancement of innovative technology. China Renaissance believes that Web 3.0 and digital assets hold tremendous potential for future growth, in line with global financial and commercial trends.

Shi Ziyuan added, "Huaxing Capital is committed to building a bridge between the Web 2.0 and Web 3.0 worlds. The company will continue to actively embrace Web 3.0 and the digital asset industry, empowering Hong Kong's digital industry ecosystem through professional capabilities and high-quality resources such as investment banking services, strategic funds, and direct investment. The company has applied to expand the scope of Hong Kong Securities and Futures Commission licenses 1, 4, and 9 to cover digital asset business. The company also looks forward to collaborating with industry partners to increase investment and development in digital asset financial infrastructure, on-chain ecosystems, and RWA assets, jointly promoting innovation and steady development in the industry and helping Hong Kong become a global digital asset center."

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