Hong Kong Fintech Fundraising Surges Amid Stablecoin Boom

Fintech firms listed in Hong Kong raised over US $1.5 billion in July through equity placements aimed at expanding into cryptocurrencies, stablecoins, and blockchain-based payments - spurred by rising investor enthusiasm and fresh regulatory clarity.

Key companies such as OSL Group, Dmall Inc, and SenseTime Group led fundraising efforts. OSL raised $300 million in late July to support global initiatives in stablecoins and digital payments, completing the offering in just days with institutional investors showing strong demand. SenseTime alone raised HK$2.5 billion, partly allocated to blockchain, real-world assets (RWA) tokenization, and stablecoins. Other participants include JF SmartInvest Holdings, ZA Online, Crypto Flow Technology, and Easou Tech.

This rush follows the passage of Hong Kong’s stablecoin licensing regime, enacted in May and effective from August 1, as the city aims to position itself as a premier regulated hub for digital assets and stablecoin issuers. An equities index tracking these fintech and stablecoin-themed stocks has soared 65% in 2025, substantially outperforming the Hang Seng Index’s 23% gain.

However, regulators - including the Hong Kong Monetary Authority - have issued warnings against “excessive exuberance”, cautioning about speculative bubbles in digital asset markets. While investor interest in stablecoins and blockchain-based fintech remains high, experts view it as the early stages of a broader structural shift, not just froth.