The global financial landscape is undergoing a transformative shift, and Hong Kong, as a leading Asian financial hub, is positioning itself at the forefront of the digital asset revolution. With the upcoming implementation of the Stablecoin Ordinance on August 1, 2025, Hong Kong is set to establish a clear regulatory framework for stablecoin activities. This landmark move not only legitimizes digital asset innovation but also opens up significant investment opportunities in the Hong Kong stock market. In this article, we explore how this regulation will reshape the financial ecosystem and highlight key stablecoin-related stocks poised for growth.
The Rise of Stablecoins in Global Finance
Stablecoins have emerged as a critical bridge between traditional finance and the digital economy. By pegging their value to stable assets like the US dollar or Hong Kong dollar, they mitigate the extreme volatility associated with cryptocurrencies such as Bitcoin and Ethereum. As of 2025, the global stablecoin market has surpassed $250 billion in circulation, reflecting growing institutional and retail adoption.
This expansion is fueled by increasing demand for efficient cross-border payments, decentralized finance (DeFi) applications, and tokenized real-world assets (RWA). With clearer regulations on the horizon, especially in jurisdictions like Hong Kong and the United States, stablecoins are transitioning from speculative instruments to core components of modern financial infrastructure.
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Regulatory Momentum: Hong Kong’s Strategic Move
Hong Kong’s Stablecoin Ordinance represents a strategic effort to create a secure, transparent, and innovation-friendly environment for digital assets. Under the new rules, stablecoin issuers must meet strict requirements regarding reserve management, auditing, and licensing—ensuring that every token in circulation is fully backed and redeemable.
This regulatory clarity aligns Hong Kong with global trends. In the U.S., proposed legislation like the GENIUS Act signals a move toward formal oversight of stablecoins, aiming to protect consumers while fostering innovation. As governments recognize the importance of maintaining monetary sovereignty in a digital age, compliant stablecoin ecosystems are gaining legitimacy.
For investors, this means reduced uncertainty and increased confidence in companies operating within regulated frameworks—especially those listed on the Hong Kong Stock Exchange.
Stablecoins and Real-World Assets (RWA): A Powerful Synergy
One of the most promising developments in digital finance is the convergence of stablecoins and RWA. Tokenizing physical assets—such as real estate, bonds, or commodities—enables fractional ownership, enhanced liquidity, and automated settlement through smart contracts.
Stablecoins serve as the ideal medium for these transactions due to their price stability and programmability. For example, a property worth HK$10 million could be tokenized into 10,000 digital tokens, each valued at HK$1,000 and settled instantly using a Hong Kong dollar-pegged stablecoin. This opens doors for broader investor participation and global capital flows.
Sectors like green finance, supply chain financing, and private credit stand to benefit significantly from this integration. As Hong Kong strengthens its role as an international asset management center, its regulated stablecoin framework will likely become a launchpad for RWA innovation.
👉 Learn how blockchain is transforming traditional asset investment
Key Hong Kong Stocks Poised to Benefit from Stablecoin Growth
As the regulatory environment matures, several Hong Kong-listed companies are strategically positioned to capitalize on the stablecoin boom. These firms span banking, fintech, e-commerce, and digital infrastructure—offering diversified exposure to the digital asset economy.
1. ZhongAn Online (06060.HK)
ZhongAn Online is a pioneer in integrating traditional insurance with fintech innovation. Its affiliate, ZA Bank, is the first local digital bank to provide reserve custody services for stablecoin issuers in Hong Kong. Partnering with Circle-like projects through the HKMA’s Stablecoin Sandbox, ZA Bank plays a foundational role in ensuring compliance and trust.
With its strong fintech ecosystem and early-mover advantage, ZhongAn stands out as a core holding in any stablecoin-focused portfolio.
2. OSL Group (00863.HK)
As Hong Kong’s only licensed digital asset exchange and custodian, OSL Group operates under full regulatory oversight—earning it comparisons to “Asia’s Coinbase.” The company has expanded into yield-generating products by partnering with protocols like Ethena, allowing users to earn returns on stablecoin holdings.
Its institutional-grade security and growing product suite make OSL a key player in driving mainstream adoption of digital assets.
3. China Everbright Holdings (00165.HK)
This investment giant has stakes in multiple fintech ventures, including Circle, one of the world’s largest issuers of USD Coin (USDC). With Circle actively pursuing global expansion and regulatory approvals, Everbright’s indirect exposure offers leveraged upside to the broader stablecoin ecosystem.
4. Standard Chartered (02888.HK) + PCCW (00008.HK)
A powerful alliance between Standard Chartered Bank, Animoca Brands, and PCCW aims to launch a regulated stablecoin in Hong Kong. Their joint venture combines SCB’s banking infrastructure, Animoca’s Web3 expertise, and PCCW’s mobile wallet network (HKT).
If approved by the HKMA, this initiative could become a cornerstone of Hong Kong’s retail and enterprise digital payment systems.
5. JD.com (09618.HK)
E-commerce giant JD.com is testing its own stablecoin within the HKMA sandbox. Designed to be pegged 1:1 to fiat currencies like USD or HKD, this stablecoin could streamline supply chain financing and cross-border trade settlements across Asia.
While still in development, JD’s vast logistics and financial services network gives it a unique edge in deploying real-world use cases.
6. LianLian Digital (02598.HK)
LianLian Digital is expanding beyond traditional payment processing into crypto-enabled solutions. Through its subsidiary DFX Labs, which recently obtained a Virtual Asset Trading Platform (VATP) license in Hong Kong, it’s collaborating with Circle-analog firm Yuanbi Technology on cross-border stablecoin applications.
This positions LianLian as a key enabler of faster, cheaper international remittances and B2B transactions.
Investment Strategy: Navigating Opportunities and Risks
While the outlook for stablecoin-related equities is promising, investors should approach with caution and a well-defined strategy.
Frequently Asked Questions (FAQs)
Q: What is the Stablecoin Ordinance in Hong Kong?
A: It’s a regulatory framework set to take effect in August 2025 that governs the issuance and operation of stablecoins in Hong Kong. It requires full reserves, regular audits, and licensing by the HKMA to ensure financial stability and investor protection.
Q: Are stablecoins safe investments?
A: While more stable than other cryptocurrencies, they still carry risks related to issuer solvency, regulatory changes, and market sentiment. Only regulated, fully backed stablecoins should be considered for conservative portfolios.
Q: How do I invest in stablecoin-related stocks?
A: You can gain exposure through Hong Kong-listed equities such as ZhongAn Online, OSL Group, or China Everbright Holdings via a brokerage account that supports港股 trading.
Q: Will all companies in the stablecoin space succeed?
A: No. Success depends on execution, partnerships, regulatory approval, and market demand. Focus on firms with proven track records and strategic alliances.
Q: Can stablecoins replace traditional banking?
A: Not entirely—but they can complement it by offering faster settlements, lower fees, and programmable money features. Regulated banks are increasingly partnering with fintechs rather than competing directly.
Q: Is now a good time to invest?
A: With regulations clarifying in 2025, early positioning may offer upside potential. However, conduct thorough due diligence and consider dollar-cost averaging to manage volatility.
Final Thoughts: Embracing the Digital Asset Future
The implementation of Hong Kong’s Stablecoin Ordinance marks a pivotal moment for the region’s financial sector. It signals a commitment to innovation while maintaining prudence—a balance that attracts global capital and talent.
For investors, this creates a rare opportunity to participate in the growth of a nascent yet rapidly evolving market. By focusing on regulated players, strong fundamentals, and real-world use cases, you can navigate this new frontier with confidence.
👉 Stay ahead of the curve in regulated digital asset markets
As stablecoins become integral to finance—from payments to asset tokenization—the companies building this infrastructure today may become tomorrow’s leaders. Now is the time to understand the landscape, assess risks, and position accordingly.