Nano Labs Plans to Apply for License for HKD and Offshore RMB Stablecoin Businesses

Rhea-AI Summary

Nano Labs Ltd (Nasdaq: NA), a Web 3.0 infrastructure provider in China, has announced plans to enter the stablecoin market following Hong Kong's new regulatory framework. The company intends to apply for licenses to operate Hong Kong dollar and offshore RMB stablecoin businesses through partnerships. Additionally, Nano Labs will develop a technical framework focusing on Bitcoin and Binance Coin (BNB) blockchain networks. This strategic move follows the Hong Kong Legislative Council's passage of the Stablecoins Bill on May 21, 2025, which establishes a licensing regime for fiat-referenced stablecoin issuers. The Stablecoins Ordinance is set to take effect on August 1, 2025, marking Hong Kong's commitment to becoming a global digital asset hub.

Positive

• Plans to enter the regulated stablecoin market with HKD and offshore RMB offerings
• Strategic positioning in Hong Kong's emerging digital asset regulatory framework
• Development of technical framework for major blockchain networks (Bitcoin and BNB)
• Potential for new revenue streams through stablecoin business

Negative

• Licensing approval is not guaranteed
• Significant regulatory compliance costs and requirements ahead
• Competition from established stablecoin issuers in the market

HONG KONG, June 23, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced that it plans to apply for relevant licenses to operate Hong Kong dollar and offshore RMB stablecoin businesses in partnership with other entities, following the official enactment of the Hong Kong Stablecoins Bill (the “Stablecoins Bill”).

In parallel, Nano Labs plans to develop a technical framework for stablecoins, focusing on blockchain networks such as Bitcoin and Binance Coin (the “BNB”). Nano Labs looks forward to forming strategic partnerships and providing strong support to foster the development of both the stablecoin ecosystem and the broader Web 3.0 industry.

On May 21, 2025, the Legislative Council of Hong Kong passed the Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin (“FRS”) issuers and reinforcing Hong Kong’s role as a global financial hub for digital assets. On June 6, 2025, the Hong Kong government published a notice in the Gazette appointing August 1, 2025 as the effective date for the Stablecoins Ordinance.

About Nano Labs Ltd

Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, it has established Bitcoin value investment and adopted Bitcoin as primary reserve asset. Nano Labs has established an integrated solution platform covering three main business verticals, including HTC solutions and HPC solutions. The HTC solutions feature its proprietary Cuckoo series chips, which have become alternative Application-Specific Integrated Circuit (“ASIC”) solutions for traditional GPUs. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

*        According to an industry report prepared by Frost & Sullivan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor inquiries, please contact:

Nano Labs Ltd
ir@nano.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

FAQ

What licenses is Nano Labs (NA) applying for in Hong Kong?

Nano Labs is planning to apply for licenses to operate Hong Kong dollar and offshore RMB stablecoin businesses under Hong Kong's new Stablecoins Bill.

When will Hong Kong's Stablecoins Ordinance take effect?

The Hong Kong Stablecoins Ordinance will take effect on August 1, 2025.

Which blockchain networks will Nano Labs focus on for its stablecoin framework?

Nano Labs plans to develop its stablecoin technical framework focusing on Bitcoin and Binance Coin (BNB) blockchain networks.

What is the significance of Hong Kong's Stablecoins Bill?

The Stablecoins Bill establishes a licensing regime for fiat-referenced stablecoin issuers and reinforces Hong Kong's position as a global financial hub for digital assets.

What is Nano Labs' core business?

Nano Labs is a leading Web 3.0 infrastructure and product solution provider based in China.