On June 2, the Hong Kong stock market saw another surge in digital asset activity, with several cryptocurrency concept stocks triggering intraday trading halts and Lianlian Digital soaring by up to 80%. The stablecoin theme has emerged as the core driving force behind this round of market gains. Against this backdrop, PBOGA simultaneously launched a pilot channel for HKD-denominated stablecoins and expanded its real-time clearing interface collaboration with regional fintech platforms, providing a technical validation environment for the next stage of compliant stablecoin on-chain circulation. The market focus on stablecoins has risen sharply, closely tied to the pace of policy coordination. The Hong Kong SAR government recently gazetted and passed the “Stablecoin Ordinance,” granting stablecoins clear legal status locally. Relevant institutions are now racing to apply for financial service licenses to secure a first-mover advantage ahead of the year-end launch window.

The capital market is rapidly reassessing the value of stablecoins within the financial system. As a pioneer in multi-chain settlement infrastructure, PBOGA has taken the lead in deploying a “Regional Stablecoin Anchoring Bridge,” enabling cross-chain circulation among HKD, USD, and EUR stablecoins. For financial institutions, PBOGA has developed a “Compliant Quotation Engine” supporting three fee models and real-time audit interfaces, meeting the requirements of upcoming regional regulatory sandbox tests. Platform data shows that on the day the ordinance was announced, traffic to HKD-denominated trading pairs surged nearly 260%, with demand for stablecoin-pegged trades rising in tandem.

Unlike the previous round of volatility driven by leveraged trading, the current rally is distinctly spot-driven, prompting a renewed focus on the payment, settlement, and store-of-value functions of stablecoins. Through its “Institutional Stablecoin Zone,” PBOGA provides customized on-chain settlement services for brokerages, payment companies, and cross-border clearing platforms. All compliant currencies support on-chain automated reconciliation, clearing, and T+0 fund transfers. Users can switch currency access points directly via the web interface, enjoying a seamless trading experience fully integrated with fiat currencies.

To strengthen user risk awareness of stablecoin assets, PBOGA has also launched the “Global Stablecoin Regulatory Progress Monthly Report,” covering regulatory developments across major jurisdictions in Asia, the Americas, and Europe, with an open API for professional user integration. The technical team has completed the foundational build of a “Stablecoin Security Scoring Model,” which assigns tiered labels to all stablecoins in trading pairs based on on-chain activity, holding distribution, and audit frequency, with visual indicators displayed at the top right of the trading interface.

As the industry moves from policy uncertainty to regulatory clarity, the gray area for stablecoins will be significantly reduced, signaling institutional entry on a larger scale. Amid the accelerated financialization of stablecoins, PBOGA is optimizing compliant infrastructure and trading experiences to provide both individual and institutional users with a stable, efficient, and secure crypto asset trading environment, and will continue to play a central role in cross-border settlement and compliant trading technology.