A day etched in financial market history!
June 24, 2025, marked a silent revolution across Hong Kong's Central district skyline — Guotai Junan International secured an upgraded license from Hong Kong's Securities and Futures Commission. This milestone now allows clients to trade cryptocurrencies and stablecoins directly on their platform.
At this critical juncture where regulation and innovation clash, Hong Kong has broken the stablecoin regulatory deadlock, sending a forward-looking signal to global markets. This watershed moment signifies regulators shifting from观望 to active guidance and heralds systemic changes across the digital asset ecosystem.
China's inaugural issuance of "Digital Asset Service Licenses" to stablecoin operators under legal frameworks isn’t an isolated policy move. Instead, it strategically anchors institutional innovation within the global digital finance wave, offering a Chinese blueprint for reshaping financial秩序.
Stablecoins Ignite Financial Tech
This year, stablecoins emerged as a global market sensation. Circle, hailed as the "first stablecoin IPO," skyrocketed 750% within 12 trading days. Recent legislative advances in the U.S. and Hong Kong aim to foster healthier stablecoin markets.
Tech giants are also jumping in. JD.com’s founder Richard Liu announced plans to pursue stablecoin licenses globally, while Ant International signaled imminent applications.
What are stablecoins?
Stablecoins are cryptocurrencies pegged to fiat currencies, commodities, or other assets, designed for price stability. Their applications span:
- Cryptocurrency trading
- Cross-border payments (enabling near-instant transfers at lower costs)
- RWA (Real World Asset) transactions
The bigger picture: Stablecoins are reshaping international monetary competition, serving as strategic tools in the digital economy. Some scholars dub this "the most significant monetary shift since Bretton Woods."
Currently, USD-backed stablecoins dominate (86% market share via USDT/USDC). However, Hong Kong’s pioneering stablecoin regulations could position RMB-backed stablecoins as a链上支点 for yuan国际化.
👉 How stablecoins are redefining global finance
116.17% Growth: Financial Tech ETF Tops the Charts
The Financial Tech ETF (159851) surged 116.17% YOY, claiming the top spot among all index funds. Key drivers:
- 23% stablecoin exposure (highest among peer ETFs)
- Underlying stocks like 四方精创 (+210% H1 2025) and 恒宝股份 (100%+ gains)
- June 2025 alone: 18.64% returns
This ETF tracks China’s CSI Financial Tech Index, covering:
- AI applications
- Internet brokers
- Huawei’s HarmonyOS
- Financial IT services
Top holdings include 东方财富 (East Money) and 恒生电子 (Hundsun), blending fintech innovation with金融属性.
The Historical Context
Today’s capital流动 mirrors past economic转折点:
- Deposit rates dropped below 1% (May 2025)
- ¥16 trillion in household存款 seeking yield
- A股日均成交突破 ¥1 trillion for 23 straight days
As CITIC Securities noted, "We’re in the early stages of rate cuts — diversifying beyond存款 is no longer optional."
👉 Why financial tech dominates 2025’s investment trends
FAQ
Q: How do stablecoins boost RMB国际化?
A: Offshore RMB stablecoins could expand usage scenarios, embedding the yuan into global payment networks via blockchain.
Q: Why choose金融科技ETF(159851)?
A: It offers concentrated exposure to high-growth fintech sectors, with liquidity (¥751M daily turnover) and规模 (¥5.7B AUM).
Q: Risks to consider?
A: All investments carry volatility. Past performance doesn’t guarantee future results — assess your risk tolerance.
Disclaimer: This content reflects market conditions as of July 2025 and isn’t investment advice. Consult professionals before making decisions.