LianLian DigiTech (02598) Surges Over 7% Intraday After Raising HK$387M Via Placement; Cross-Border Payments May Benefit From HK Stablecoin Development

Stock News

2025/07/16

LianLian DigiTech (02598) jumped more than 7% during Hong Kong trading before paring gains to a 5.36% advance at HK$14.54 by press time, with turnover reaching HK$285 million. The fintech firm announced a placement of 38.4 million shares at HK$10.25 apiece, expecting net proceeds of approximately HK$387 million. Funds will be allocated to: blockchain innovation in global payments (50%), international licensing expansion (30%), and general corporate purposes (20%).

Xiangcai Securities noted stablecoins' blockchain-based payment-settlement simultaneity offers significant efficiency and cost advantages, positioning cross-border payments as a prime application scenario. LianLian's subsidiary DFXLabs secured Hong Kong's VATP license in 2024, becoming one of only 11 SFC-authorized virtual asset trading platforms. As the sole licensee with authentic trade payment scenarios, LianLian can potentially offer stablecoin trading and fiat on/off-ramp services to existing clients.

Hong Kong's Stablecoin Ordinance takes effect August 1. Should the company obtain a stablecoin issuance license, it could significantly expand its payment and virtual asset business operations.

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Should the company obtain a stablecoin issuance license, it could significantly expand its payment and virtual asset business operations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CRCL","symbol_name":"Circle Internet Corp.","start_time":0,"source_url":"","article_id":"1199535725","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1199535725","pubTimestamp":1752647063,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"LianLian DigiTech (02598) jumped more than 7% during Hong Kong trading before paring gains to a 5.36% advance at HK$14.54 by press time, with turnover reaching HK$285 million. 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