Hong Kong-based OSL Group, the city’s first listed and licensed virtual-asset trading platform, sees optimism rise in the local market as the stablecoin law comes into effect this Friday.
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That assessment was made by Gary Tiu, executive director and head of regulatory affairs at OSL, at a symposium on Thursday about Hong Kong’s stablecoin era.
“We will continue to build ecosystems and networks in this space,” Tiu said. “We are the long-term partner for this space.”
Stablecoins are a type of cryptocurrency token that maintain a fixed value by being pegged to a reference asset, typically fiat currencies such as the US dollar.
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Heightened market anticipation around stablecoins was reflected in OSL’s sale of existing shares, top-up subscriptions and new shares last Friday, when it raised HK$2.36 billion (US$300 million).
Crypto exchange OSL sees optimism rise as Hong Kong enters stablecoin era
