The Hong Kong Securities and Futures Commission has approved Ant Group's acquisition of stablecoin concept stock Glory Securities.

[Hong Kong Securities and Futures Commission approves Ant Group's acquisition of stablecoin concept stock Yao Cai Securities] According to Caixin, the Hong Kong Securities and Futures Commission has approved Ant Group's acquisition of local Hong Kong brokerage firm and stablecoin concept stock Yao Cai Securities, but it still awaits approval from the National Development and Reform Commission. Yao Cai Securities surged 30% during the trading session today. Ant Group announced in April this year its offer to acquire 50.55% of Yao Cai Securities' shares, and at that time, market rumors suggested that Ant's acquisition of Yao Cai Securities was to apply for a virtual asset trading platform license. It is understood that Yao Cai Securities is a well-established local brokerage in Hong Kong, holding licenses 1, 2, 3, 4, 5, 7, and 9, covering Hong Kong stocks, U.S. stocks, Shanghai-Hong Kong Stock Connect, financing, and futures business. During the stablecoin boom in July-August, Yao Cai Securities was also a popular stablecoin concept stock.