The profit making effect of Hong Kong stock market's new listings has attracted many people in the cryptocurrency industry to participate, but the fake listings made by cryptocurrency exchanges are different now. I have looked at the plans of those two companies, one is to help VC unlock in advance, and the other is to simply make fake listings. Anyway, the IPO money will be earned back through hand renewals and contracts. However, the new listings for Stablestock's Hong Kong stock market are different. They rely on the compliance framework of the securities firms to submit and each KYC can only be done once. It is useless to make new listings at different securities firms at the same time, as the data for new listings is publicly available for inspection. Stablestock involves a cryptocurrency friendly broker behind the scenes, which is not without precedent. In the past, Victory Securities could directly deposit BTC, ETH, USDT into the broker, and then exchange them for Hong Kong dollars to make new deposits. If I remember correctly, the deposit fee seems to be 100 Hong Kong dollars. Stablestock just executes these operations for you.