China Financial Leasing to Raise $11M for Crypto and AI Investment Platform
China Financial Leasing Group is ready to increase HK$86.7 million ($11.1 million) by means of a strategic share placement geared toward launching a digital asset funding platform centered on cryptocurrency and synthetic intelligence.
Key Takeaways:
- China Financial Leasing Group will increase $11.1 million by means of a share placement to fund a brand new Crypto-AI funding platform.
- The platform will goal a variety of digital asset sectors together with DeFi, RWA, stablecoins, and DePIN.
- The transfer aligns with Hong Kong’s push to turn into a world crypto hub, sending the corporate’s replenish 25%.
In a filing with the Hong Kong Stock Exchange on Sunday, the agency stated it should concern 69.38 million new shares to Innoval Capital at HK$1.25 per share.
The subscription represents 20% of the agency’s present share capital and 16.7% of its expanded base post-placement.
China Financial Leasing to Fund Crypto-AI Investment Platform with New Capital Raise
According to the submitting, the capital will fund the creation of a Crypto-AI funding platform that can again a big selection of digital asset ventures.
These embrace investments in exchanges, stablecoins, Bitcoin (BTC), Ethereum (ETH), real-world property (RWA), NFTs, DeFi, and decentralized bodily infrastructure (DePIN).
Innoval Capital is a British Virgin Islands-based agency based by Moore Xin Jin, the CEO of Antalpha.
Jin is a seasoned participant within the digital finance area, main Antalpha Platform Holding Company (ANTA), which manages over $1.6 billion in property.
China Financial Leasing says the transfer aligns with the Hong Kong authorities’s June 2024 coverage push to place town as a world crypto hub.
The agency plans to evolve into an “modern digital asset funding holding group” by leveraging each blockchain and synthetic intelligence.
Shares of the corporate surged by 25% in Hong Kong buying and selling on Monday afternoon following the announcement.
As of two:00 p.m. native time, the corporate’s market capitalization stood at roughly HK$555 million ($71.3 million), in accordance to Yahoo Finance information.
The proposed increase and shift towards digital property alerts a rising urge for food amongst Hong Kong-listed companies to capitalize on town’s regulatory assist for Web3 initiatives.
China Urges Brokerages to Halt RWA Tokenization in Hong Kong
Last month, China’s securities regulator informally instructed several major brokerages to pause real-world asset (RWA) tokenization efforts in Hong Kong, citing issues over danger administration and hypothesis, in accordance to Reuters sources.
The China Securities Regulatory Commission (CSRC) has not issued a public directive however is reportedly scrutinizing whether or not these choices are backed by sustainable enterprise fashions.
This steerage comes at a time when Hong Kong is actively positioning itself as Asia’s digital asset hub, launching tokenized bond packages, stablecoin frameworks, and welcoming dozens of digital asset platforms.
Recent high-profile launches by GF Securities and China Merchants Bank International illustrate the area’s momentum, regardless of mainland China’s cautious stance.
Hong Kong regulators proceed to advance RWA tokenization insurance policies by means of the FSTB and HKMA. Investor curiosity stays robust, with 77 companies making use of for licenses and shares like Guotai Junan International and Fosun International seeing huge positive factors linked to crypto enlargement.
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