Jul. 26 at 4:10 PM
Catalyst: Aug 1 Hong Kong Stablecoin Ordinance going into effect.
Targets: zeroing in on US listed, Chinese financial firms that meet a specific set of requirements that would make them likely to be the ISSUER OF FIAT-REFERENCED STABLECOINS in Hong Kong.
$BABA is the leader of all this, and as the parent company of Ant, Antchain is one exposure reference point to pick on. I found TIGR,
$BTCS, YI, and EQOS have exposure.
But then to issue said Stablecoin, Hong Kong requires the company to have various compliances and liquidity and market cap and all that, which to make a long story short, yielded FUTU,
$JD, QFIN (a bunch of already overbought tickets, and one that kinda escaped the limelight:
$LU)
Then there companies that participated in this HKMA sandbox thing that also seems to be a prerequisite, JD was there and
$SWIN
FINV, LX, NOAH, recent pullbacks have them high on the list.
