New players on the scene? More than ten securities firms held meetings focusing on "stablecoins".

Almost overnight, "stablecoins" suddenly became popular. According to Jinqiu Finance, in just two days from May 29th to 30th, there were more than ten conference calls organized by securities firms with "stablecoin" as the keyword, involving over ten securities firms in the industry. In these past few days, several stocks related to "stablecoins" have shown strong momentum one after another. It was observed that behind this trend is the development of relevant policies. Recently, the Legislative Council of the Hong Kong Special Administrative Region passed the "Stablecoin Regulations Draft." The passing of this draft has attracted significant attention from securities firms as it will have an impact on various aspects of the stablecoin industry and its participants. While the prospects for the application of stablecoins are promising, some market participants believe that the recent speculation in the secondary market is fast-paced. The stablecoin sector did not show strong performance on May 30th, indicating market divergence and suggesting that the market should observe the sustainability of the trend. It was observed that currently, there is a lack of in-depth research reports on stablecoins by domestic securities firms, and mainstream institutions still have a certain cognitive gap on stablecoins. In the short term, the market may still be in the speculative stage for stablecoins.