Dmall Confirms Hong Kong Stablecoin License Plans
Retail digital solutions provider Dmall (HKEX: 02568) saw its shares surge nearly 90% during July 3 trading sessions following reports of its stablecoin ambitions. The stock settled at a 32.74% gain by midday, valuing the company at HK$10.8 billion.
Company executives confirmed to Securities Times that Dmall is preparing to apply for a Hong Kong stablecoin license, positioning itself alongside financial institutions in the rapidly growing digital asset sector.
Strategic Crypto Positioning
Dmall VP and CFO Tang Yifan outlined the company's crypto strategy:
- Maintains Bitcoin treasury holdings
- Actively recruits Web3 talent
- Views stablecoins as transformative for cross-border payments in retail
- "This aligns with global cryptocurrency adoption trends in commerce," Tang noted
Company Background and Financials
Founded in 2015, Dmall specializes in:
- Dmall OS - Retail digital operation system
- AIoT Solutions - Smart retail infrastructure
2023 Financial Highlights:
| Metric | Value (CNY) | YoY Change |
|---|---|---|
| Operating Revenue | 1.859 billion | +17.3% |
| Gross Profit | 746 million | +34.6% |
| Net Loss | 2.195 billion | +238.7% |
AI and Stablecoin Synergy
The company has prioritized generative AI development:
- Deployed retail-specific AI Agents
- Launched Dmall Solution 3.0 with embedded AI
- Generated "nine-figure revenue" from AI retail applications (per President Zhang Feng)
The stablecoin initiative represents Dmall's latest revenue diversification effort in Hong Kong's expanding virtual asset ecosystem.
👉 Discover how major exchanges are integrating stablecoins
Hong Kong's Virtual Asset Boom
Recent industry developments:
- Guotai Junan International (01788.HK) upgraded license for crypto trading (198.39% stock surge on approval)
- Market projected to exceed HK$150 billion by 2025 (35% CAGR)
- Regulatory clarity attracting institutional participants
"Stablecoins bridge digital and traditional economies," notes CITIC Securities research, highlighting opportunities for compliant issuers and ecosystem builders.
FAQ: Dmall's Stablecoin Strategy
Q: Why is Dmall entering the stablecoin market?
A: To enhance payment efficiency for retail clients and capitalize on Hong Kong's virtual asset growth.
Q: What gives Dmall competitive advantage?
A: Existing retail infrastructure and AI capabilities could enable unique stablecoin use cases.
Q: How does this fit with their AI focus?
A: Potential synergies between AI-powered retail analytics and stablecoin transaction networks.
👉 Explore stablecoin adoption in Asian markets
Market Outlook
Industry analysts suggest:
- Early-stage growth potential for compliant stablecoins
- Application diversity determining long-term winners
- Hong Kong's regulatory framework creating institutional opportunities