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Standard Chartered Bank becomes the first bank to distribute Hong Kong dollar stablecoins

According to CoinDesk, Standard Chartered Bank, headquartered in London with assets of $850 billion, announced that it will become the first bank to distribute Hong Kong-regulated stablecoins. The institution stated in an email announcement released on Monday that it will first assist its eligible institutional clients and partners in integrating the Hong Kong dollar stablecoin HKDAP issued by Anchorpoint Financial, of which Standard Chartered is the majority shareholder.Standard Chartered also indicated plans to launch several new HKDAP commercial applications within the next month, with use cases including market fund subscriptions, settlements with asset management managers, inter-departmental settlements within the bank's global network, and cross-border payments. Anchorpoint Financial began a limited rollout of HKDAP on August 12, having just obtained one of the first two issuance licenses in Hong Kong four months prior. The initial rollout will focus on institutional payments and settlements, with more access channels and cross-border applications to be added later.Another licensed institution, HSBC, is preparing to launch its stablecoin in the second half of 2026 and may distribute it through PayMe, which has 3.3 million users. Additionally, Kraken's parent company Payward has expanded its stablecoin business in Hong Kong through a $600 million acquisition of Reap Technologies.

Shanghai issues a new industrialization plan, exploring innovative frameworks such as quantum artificial intelligence

Shanghai issued the "14th Five-Year Plan for Accelerating the Advancement of New Industrialization and Building a Modern Industrial System." The plan proposes to comprehensively enhance intelligent computing capabilities, tackle high-performance, low-power, and high-efficiency intelligent computing chips, improve cluster networking and cloud service capabilities, and explore innovative architectures such as heterogeneous computing, optical computing, and quantum artificial intelligence; optimize intelligent computing infrastructure and build an urban computing power network.The plan clearly states the continuous effort on large models, focusing on the research and development of the next generation of large models, overcoming key technologies such as architecture design and training optimization, promoting the coordinated development of chips, large models, and intelligent computing clouds, and building an independent ecosystem. It further promotes the "Model Power Gathering in Shanghai" initiative, accelerates the maturation of embodied intelligence technology, strengthens the autonomous full industrial chain layout of intelligent robots, enhances performance in key areas, and promotes real-world applications in key fields such as industrial manufacturing, logistics assembly, commercial retail, medical care, and housekeeping services. Among them, Jing'an District focuses on developing leading industry characteristic tracks such as ultra-high-definition audio-visual, data intelligence (data corpus and AI applications, blockchain), and beauty and health.

Yangtze Memory Technologies' parent company is expected to raise 33 billion yuan through its IPO on the Sci-Tech Innovation Board

On August 24, according to Reuters, China's largest flash memory chip manufacturer Yangtze Memory Technologies Co., Ltd. (YMTC) and its parent company Yangtze Memory Technologies Holdings (CCSH Corporation) have had their listing application accepted by the Shanghai Stock Exchange's Science and Technology Innovation Board, with the market expecting the company to go public next year. This IPO is expected to raise 33 billion yuan (approximately 4.9 billion USD). CCSH plans to issue between 1.98 billion and 2.43 billion new shares.The prospectus shows that the company's revenue in the first quarter of 2026 (January to March) reached 47 billion yuan, nearly a fivefold increase year-on-year; net profit was 33.38 billion yuan, more than double the net profit of 14.21 billion yuan for the entire year of 2025. YMTC's factories are currently operating at near full capacity and are continuously expanding sales in the tightening NAND flash memory market. The average selling price of NAND flash memory in the first quarter of 2026 reached 2.73 times the average level of 2025, and the gross profit margin also significantly increased from 35.3% in 2025 to 76.8%.CCSH plans to use 20.8 billion yuan of the funds raised from this listing to expand production lines, and an additional 12.2 billion yuan for research and development of the next generation of NAND flash memory and high-speed storage products.
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