Hong Kong Firm Invests HKD 81.47M in Web3 and AI, Stock Surges 19.53%
Hong Kong-listed China Financial Leasing Group has announced plans to invest HKD 81.47 million ($11.14 million) in the web3 and AI sectors. The company's stock surged by 19.53% following this crypto-related announcement, reflecting a broader trend among Hong Kong firms exploring cryptocurrency initiatives.
The group aims to raise around HKD 86.724 million through a share issuance to establish a crypto and AI digital asset platform. Although there's no official launch date yet, the company plans to facilitate trading for a wide range of assets, including stablecoins, Bitcoin, Ethereum, real-world assets, NFTs, and DeFi.
Meanwhile, Hong Kong's Securities and Futures Commission has warned investors about the increased risk of fraud related to stablecoins and crypto. This comes as Hong Kong's first licensed crypto exchange, OSL, saw its stock rise by over 12% after announcing plans to explore stablecoins.
China Financial Leasing Group's stock price nearly doubled following the announcement, mirroring a wider trend among Hong Kong firms vying for crypto initiatives. The company's plans to establish a digital investment platform and develop its own crypto platform indicate a growing interest in the cryptocurrency sector within the region.
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