Hong Kong-listed firm China Monetary Lease Group (2312) has introduced that it plans to boost roughly HK$86.5 million ($11.1 million) from which it can construct a cryptocurrency funding platform.
China Monetary plans to boost capital by a share subscription and subject greater than 69 million new shares at a worth of HK$1.25 every, in response to a submitting with the Hong Kong Inventory Alternate.
Roughly 94% of the online proceeds from the procurement shall be used to spend money on securities of firms in varied sectors, with a deal with the cryptocurrency and blockchain business, and synthetic intelligence (AI).
The corporate added in Sunday's announcement that it intends to deal with “establishing a cryptocurrency and AI digital asset funding platform.”
Hong Kong is on the forefront of jurisdictions regulating the crypto business, saying plans in June to ascertain a system to supervise exchanges, custodians, stablecoins and different digital asset service suppliers.
China Monetary rose about 34% to shut at HK$1.72 on Monday. In distinction, the Grasp Seng Index closed 0.67% decrease.
