Stablecoin-linked stocks in Hong Kong plunged by double digits amid the city’s new regulatory transition, but experts say it's a healthy correction.
Stablecoin companies operating in Hong Kong posted double-digit losses on Friday amid local regulatory shifts and a broader market correction.
Bright Smart Securities & Commodities Group fell nearly 20% on Friday, according to Google Finance data. Yunfeng Financial Group dropped more than 16% during the trading session, while Guotai Junan International Holdings slid 11% and OSL Group declined 10.5%.
These companies are referred to as “Hong Kong stablecoin-concept companies,” with share prices driven by exposure to stablecoin issuance, custody, trading, or related infrastructure. Still, some local experts view the correction as a positive market adjustment.
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