The global stablecoin market is experiencing unprecedented growth, with the U.S. and China leading the charge. Following Circle's IPO surge (up 800%) and Guotai Junan International's 198% single-day jump on Hong Kong's stock exchange, retail digitalization leader Dmall (02586.HK) has announced plans to pursue a stablecoin license in Hong Kong.
Dmall's Established Stablecoin Strategy
Dmall's entry into stablecoins builds on its February 2025 strategic partnership with HashKey Group, which operates Hong Kong's largest licensed virtual asset exchange (HK$600B+ total volume). Key developments include:
- Opened trading accounts on HashKey Exchange
- Developing Web3-powered digital asset solutions for retailers
- Current Bitcoin holdings as part of cryptocurrency diversification
- Recruiting Web3 talent from Amber Group, Crypto.com, and other industry leaders
CFO Tang Yifan emphasized stablecoins' role in enhancing cross-border payments for Dmall's global retail clients:
"Stablecoin payments significantly improve efficiency while reducing transaction costs, creating superior customer experiences."
Hong Kong's Emergence as a Virtual Asset Hub
Hong Kong has implemented progressive regulations to establish itself as Asia's cryptocurrency center:
- 2022 Policy Declaration: Formalized crypto asset development goals
- Dual Licensing System: Regulates virtual asset trading platforms
Innovation Milestones:
- World's first government-backed tokenized green bond
- Approved Asia's inaugural virtual asset ETFs
- 2025 Stablecoin Ordinance: Effective August 1, 2025, establishing licensing framework
Global Stablecoin Market Outlook
Key industry insights reveal:
- Current Market Size: $247.4B (May 2025)
- Growth Rate: 38% CAGR over two years
Primary Use Cases:
Use Case Advantage Market Share Cross-border payments Faster/cheaper than wire transfers 60% growth sector On-chain transactions 90%+ crypto trades stablecoin-settled Dominant trading pairs
FAQ: Dmall's Stablecoin Strategy
Q: Why is Dmall entering the stablecoin market now?
A: With Hong Kong's regulatory clarity and growing merchant adoption, stablecoins represent both strategic asset diversification and payment innovation for retail clients.
Q: How will Dmall ensure regulatory compliance?
A: The company is working with licensed partners like HashKey and will adhere to Hong Kong's forthcoming stablecoin licensing requirements.
Q: What cryptocurrencies does Dmall hold?
A: Currently Bitcoin, with plans to expand its digital asset portfolio strategically.
Q: When will Dmall launch stablecoin services?