Hong Kong Securities Supervision Commission Approves Ant Group's Acquisition of Stablecoin Concept Stock
2025-10-13 07:18:26
According to Caixin, the Hong Kong Securities Supervision Commission approved Ant Group's acquisition of Hong Kong local brokerage and stablecoin concept stock Yaocai Securities, but still pending the approval of the National Development and Reform Commission, Yaocai Securities rose 30% in intraday trading today. Ant Group announced an offer to acquire 50.55% of Yaocai Securities in April this year. At that time, it was rumored in the market that Ant's acquisition of Yaocai Securities was to apply for a virtual asset trading platform license. It is understood that Yaocai Securities is an established local brokerage in Hong Kong, with licenses No. 1, 2, 3, 4, 5, 7 and 9 in Hong Kong, covering Hong Kong stocks, US stocks, Shanghai, Shenzhen and Hong Kong Stock Connect, financing and futures businesses. In the July-August stablecoin boom in Hong Kong, Yaocai
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