Crypto Stocks Surge 16% Led by Guotai Junan, GoldenStream Soars 140%

Hong Kong-listed stocks related to cryptocurrency and stablecoins experienced a significant surge, with several companies seeing substantial gains. Guotai Junan International led the charge with a 16% increase in its stock price. New Frontier Corporation and Multi-Dimension Technology also saw their stock prices rise by over 10% each, while Euroclear and OSL Group recorded gains of over 5%. This upward trend was driven by the growing interest in stablecoin concept stocks, which have been gaining traction in the market.

One of the standout performers was GoldenStream Investment, whose stock price soared by over 140% following a strategic partnership with AnchorX. The collaboration was formalized through a strategic cooperation framework memorandum signed on July 4th. AnchorX, utilizing advanced distributed ledger technology, introduced AxCNH, a stablecoin pegged 1:1 to the offshore Chinese yuan. The partnership aims to promote the use of AxCNH in cross-border payments and trade settlements, as well as explore the development of digital asset trading platforms and investments in the fintech sector.

This surge in stablecoin-related stocks highlights the increasing interest and investment in digital assets and blockchain technology. The partnership between GoldenStream Investment and AnchorX is a notable example of how companies are leveraging stablecoins to facilitate cross-border transactions and enhance financial services. The collaboration is expected to drive further innovation in the fintech industry, as both parties work together to explore new applications for digital assets.

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