Cryptocurrency-related stocks defied the broader digital asset downturn with explosive gains. During the morning session on February 16, Hong Kong's virtual currency concept sector led the market, surging over 9% at one point. STARCOIN GROUP (00399.HK) skyrocketed by up to 90%, while GOFINTECH QUANT (00290.HK) jumped 20%. MEMESTRATEGY (02440.HK) advanced more than 12%, and Lianlian Digitial saw gains exceeding 6.5%.
The rally follows STARCOIN GROUP's announcement that on February 12, 2026, the company entered into a strategic cooperation framework agreement with China International Digital Intelligence Finance Group Limited for a gold real-world asset (RWA) tokenization project. Separately, Aptos Labs jointly released a whitepaper with Binah Capital Group Inc and Hang Seng Bank titled "Digital Currency: Hong Kong's Fund Industry Doubling Opportunity." The document summarizes pilot results from the Hong Kong Monetary Authority's "Digital Hong Kong Dollar+" second phase, indicating that digital currencies and tokenized assets now possess the maturity to support institutional financial applications, transitioning from proof-of-concept to large-scale commercial implementation.
On the final trading day of the Lunar Snake Year, Hong Kong stocks demonstrated notable activity. STARCOIN GROUP hit intraday highs exceeding 90%, building on its 38% surge from the previous Friday. The entire virtual currency sector rallied collectively, with stablecoin concept stocks briefly gaining over 9% to lead sector performance.
STARCOIN GROUP disclosed last week that it plans to establish several project entities through the framework agreement. China International Digital Intelligence Finance will provide underlying assets for tokenization and coordinate resources to obtain relevant Hong Kong issuer licenses. STARCOIN GROUP will supply blockchain infrastructure, system security, and technical support for digital asset registration, circulation, and real-time auditing. The company intends to bring additional strategic partners to support the gold RWA tokenization initiative.
The framework outlines preliminary principles for management fees, fixed returns for gold suppliers, marketing cost allocation, and operational profit distribution among project entities. Final terms remain subject to negotiation and definitive agreements.
STARCOIN GROUP's board stated the collaboration aligns with its strategic development in blockchain infrastructure and digital asset technology. The agreement integrates the group into a large-scale asset-backed digital reserve ecosystem, potentially strengthening its international positioning in digital finance and cross-border settlement applications through Hong Kong's regulatory framework. The partnership is expected to create new revenue streams and diversify income sources through technical services, ecosystem operations, and RWA-related business.
February 2 marked a regulatory milestone as Hong Kong Monetary Authority Chief Executive Eddie Yue announced the authority is evaluating stablecoin issuer license applications and has requested supplemental materials from some institutions regarding specific use cases, risk management frameworks, and reserve asset details. The target remains issuing Hong Kong's first stablecoin licenses by March.
Research conducted by Binah Capital Group Inc and Aptos Labs between May and June 2025 revealed 97% of surveyed individual investors expressed interest in tokenized funds and programmable digital currency features. 61% indicated they would double their fund allocation if such features were available, while 95% showed openness to functional equivalents like the "digital Hong Kong dollar" and tokenized deposits.
Binah Capital Group Inc emphasized that achieving scale requires focus on technology adoption (including interoperable, privacy-protecting blockchain infrastructure), regulatory framework enhancement (utilizing DID and VC for automated KYC), and business model innovation (developing new products and services). Additionally, 2026 represents a critical inflection point, with decisions made within the next 12-18 months regarding regulation, infrastructure, and ecosystem collaboration likely to determine Hong Kong's role in the global on-chain financial system. Hong Kong aims to become the world's largest cross-border wealth management center by 2029.