Industry Insiders: Over a Dozen Securities Firms Recently Held Intensive Conference Calls Focusing on "Stablecoins"

From May 29 to May 30, over a dozen brokerage firms, including CITIC Securities, Guotai Junan Securities, China Merchants Securities, Guojin Securities, Soochow Securities, Western Securities, and Guosheng Securities, held 13 roadshow meetings with "stablecoin" as the keyword. In the coming days, brokerages such as CICC and GF Securities will also hold stablecoin-related conference calls. Industry insiders believe that the recent rapid market emergence of stablecoins is closely related to several catalysts: 1. Recently, the Legislative Council of the Hong Kong Special Administrative Region passed the "Stablecoin Ordinance Bill" (hereinafter referred to as the "Bill"), marking Hong Kong as the first jurisdiction globally to establish a comprehensive regulatory framework for fiat-backed stablecoins. 2. Circle Internet Group, the issuer of the world's second-largest stablecoin USDC, recently announced its IPO terms, with plans to list on the NYSE and raise up to $624 million. 3. Recently, the "GENIUS Act" (Guiding and Establishing National Innovation in U.S. Stablecoins Act) made significant progress in the U.S. Senate. Once passed, the act could drive increased institutional investment in stablecoins.