Hong Kong Web3 Daily Must-Read: The Federal Reserve cuts interest rates by 25 basis points, Boyaa Interactive completes a HKD 370 million Bitcoin purchase.

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2 hours ago

整理:Nona,Techub News

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[00434.HK]( 370 million HKD Bitcoin purchase, acquiring approximately 411 Bitcoins

Boyaa Interactive (<a href=)) announced that the group has completed its plan to purchase Bitcoin using approximately 370 million HKD from the placement proceeds, acquiring about 411 Bitcoins at an average purchase price of approximately 115,400 USD each. As of the announcement date, the group holds approximately 4,091 Bitcoins, with a total cost of about 279 million USD and an average cost of about 68,100 USD each.

[

]( 18.1 million HKD for cryptocurrency asset licenses and Web3 project development and investment

Empire Financial Group Limited (HK.8029) signed a placement agreement with the placement agent on September 17, 2025, planning to place up to 46.68 million new shares at a price of 0.388 HKD per share, expecting to raise approximately 18.1 million HKD. If all placement shares are fully placed, the net amount is expected to be about 17.6 million HKD. The company plans to use the net proceeds for the following purposes: (i) approximately 7 million HKD for general operating funds; (ii) approximately 6 million HKD for further development of financial services, including enhancing existing SFC licenses related to cryptocurrency asset trading and management; (iii) approximately 4.6 million HKD for the development and investment of Web 3.0 businesses and projects.

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[]( 18.1 million HKD for cryptocurrency asset licenses and Web3 project development and investment

Empire Financial Group Limited (HK.8029) signed a placement agreement with the placement agent on September 17, 2025, planning to place up to 46.68 million new shares at a price of 0.388 HKD per share, expecting to raise approximately 18.1 million HKD. If all placement shares are fully placed, the net amount is expected to be about 17.6 million HKD. The company plans to use the net proceeds for the following purposes: (i) approximately 7 million HKD for general operating funds; (ii) approximately 6 million HKD for further development of financial services, including enhancing existing SFC licenses related to cryptocurrency asset trading and management; (iii) approximately 4.6 million HKD for the development and investment of Web 3.0 businesses and projects.

<p class=)00936.HK) up 250%, previously the company announced a strategic transformation and the development of real-world asset (RWA) tokenization business layout.

[The blockchain technology team of Yunfeng Financial Group Limited successfully tokenized the FOF (fund of funds) shares invested by its wholly-owned subsidiary into real-world assets (RWA), and issued the first independently completed RWA project. This FOF fund mainly focuses on alternative assets, directly or indirectly investing in credit and real estate-related debt securities markets, and the tokenized investment shares provide investors with greater transparency.

]( Tokenization of FOF fund investment shares

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[]( Tokenization of FOF fund investment shares

<p class=)[Hong Kong-listed company Qianxun Technology announced that it has signed a non-binding memorandum of understanding for a potential acquisition, planning to acquire 100% equity of Web 3 fintech company Punk Code for no more than 25 million HKD. The founding team of the latter mainly comes from Tencent, having participated in the establishment of Tencent's Hong Kong virtual bank Fusion Bank in 2020, exploring scenarios in blockchain finance and digital assets.

]( 100% equity memorandum of understanding<p class=)

[]( 100% equity memorandum of understanding<p class=)[The Hong Kong Monetary Authority lowered the benchmark interest rate by 25 basis points to 4.50%, following a 25 basis point rate cut by the Federal Reserve overnight.

]( 25 basis points<p class=)

[]( Selected activities in Hong Kong for September

We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.

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[Regulation/Macro]( Selected activities in Hong Kong for September

We have specially compiled noteworthy activities in the cryptocurrency field in Hong Kong for September, which will open a window to the future of Web3 for you.

<div class=)

[The Australian Securities and Investments Commission (ASIC) provides regulatory exemptions for stablecoin intermediaries, allowing them to distribute stablecoins issued by holders of Australian Financial Services (AFS) licenses without separately holding AFS, market, or clearing house licenses.

](<p class=)

[](<p class=)[The New York State Department of Financial Services (NYDFS) issued guidance on Wednesday requiring banks to adopt blockchain analysis technology to combat illegal activities. Its regulatory supervisor stated that as traditional banking institutions expand into virtual currency businesses, their compliance functions must adapt to the new situation, introducing new tools and technologies to mitigate new risks. The guidance particularly emphasizes the importance of using blockchain analysis tools in customer wallet risk screening, digital asset product risk assessment, and other areas to prevent illegal activities such as money laundering, terrorist financing, and sanctions evasion.

](<p class=)

[](<p class=)[The U.S. Congress held a meeting on September 17 to advance legislation on Bitcoin as a strategic reserve. Several Republican lawmakers, including Senators Ted Cruz and Marsha Blackburn, as well as industry representatives like MicroStrategy founder Michael Saylor, attended the meeting. The "BITCOIN Act" was reintroduced by Senator Cynthia Lummis in March this year, aiming to classify Bitcoin as a national strategic reserve asset on par with gold and requiring the U.S. government to acquire 1 million Bitcoins over the next five years. Notably, this proposal remains controversial outside the cryptocurrency community, and Lummis herself acknowledged that persuading her congressional colleagues may take a long time.

]( Acquire 1 million Bitcoins within 5 years<p class=)

[]( Acquire 1 million Bitcoins within 5 years<p class=)[Lu Lei, Deputy Governor of the People's Bank of China, revealed at the 14th China Payment and Clearing Forum that significant progress has been made in the interconnection of cross-border QR code payments, with Ant Group's Alipay and Ant International becoming the first institutions to participate in the pilot of the unified cross-border QR code gateway business.

](<p class=)

[Project/Company Updates](<p class=)

[The U.S. Securities and Exchange Commission (SEC) has approved the first multi-asset cryptocurrency exchange-traded product (ETP) in the U.S., approving the listing of the Grayscale Digital Large Cap Fund (GLDC). This fund will invest in the top five cryptocurrencies globally: Bitcoin, Ethereum, Ripple, SOL, and ADA. The multi-asset crypto ETP provides traditional investors with an easier way to access multiple cryptocurrencies without needing to open accounts on exchanges or directly purchase tokens.

]( SEC approves Grayscale's first U.S. multi-asset cryptocurrency ETP<div class=)

[Circle has partnered with Kraken to expand access to USDC and EURC, accelerating the growth of stablecoins as core infrastructure for a new internet financial system.

]( Partnership with Kraken to expand access to USDC and EURC<p class=)

[]( Partnership with Kraken to expand access to USDC and EURC<p class=)[Singapore's DBS Bank, Franklin Templeton, and Ripple have established a partnership to launch trading and lending solutions powered by tokenized money market funds and the RLUSD stablecoin.

]( Bank, Franklin Templeton, and Ripple partner to launch tokenized money market fund<p class=)

[]( Bank, Franklin Templeton, and Ripple partner to launch tokenized money market fund<p class=)[DeFi Development Corp has purchased an additional 62,745 SOL, valued at approximately 14.6 million USD. The total amount of SOL held by the company has exceeded 2 million, valued at nearly 500 million USD. The company currently has approximately 25 million shares outstanding, which calculates its "per share corresponding SOL value" metric to be about 19.44 USD.

]( Development increases SOL holdings by approximately 14.6 million USD, total holdings nearing 500 million USD<p class=)

[]( Development increases SOL holdings by approximately 14.6 million USD, total holdings nearing 500 million USD<p class=)[Solana Treasury Company Forward Industries (FORD) has submitted a 4 billion USD ATM plan to the U.S. SEC to support its Solana financial strategy. The plan will be used for general corporate purposes, including continuing to execute Solana's strategy, acquiring income-generating assets, and other capital expenditures.

]( Industries launches 4 billion USD ATM plan to support Solana Treasury strategy<p class=)

[]( Industries launches a $4 billion ATM plan to support Solana Treasury strategy<p class=)[Qatar National Bank Group (QNB Group), Standard Chartered Bank, and DMZ Finance have launched a regulated tokenized money market fund, QCD Money Market Fund, at the Dubai International Financial Centre (DIFC). The fund is initiated and managed by Qatar National Bank Group (QNB Group), the largest card issuer in the Middle East and Africa, with DMZ Finance serving as the co-initiator and exclusive provider of tokenized infrastructure.

]( Finance launches tokenized money market fund<p class=)

[In-Depth & Outlook]( Finance launches tokenized money market fund<p class=)

[Today, the autonomous nodes, open-source code, and distributed ledger of blockchain provide the technological possibility for Latin America to rebuild its "blood circulation system": developers in Argentina, Brazil, and Mexico are issuing local stablecoins pegged to the peso and real, using smart contracts to reduce cross-border fees to mere cents, allowing remittances and trade financing to bypass dollar settlements.

]( & On-the-spot innovation of stablecoins<p class=)

[]( & On-the-spot innovation of stablecoins<p class=)[

Opinion

]( When will it be implemented? An in-depth analysis of the capital game behind the "difficult birth" of the Korean won stablecoin

Within the framework of "net inflows and net outflows," the Korean won stablecoin presents a tricky problem for policymakers and businesses. However, the global financial system has begun to tilt towards blockchain. If South Korea hesitates, it may be left far behind in the wave of financial innovation.

<p class=)

[]( When will it be implemented? An in-depth analysis of the capital game behind the "difficult birth" of the Korean won stablecoin

Within the framework of "net inflows and net outflows," the Korean won stablecoin presents a tricky problem for policymakers and businesses. However, the global financial system has begun to tilt towards blockchain. If South Korea hesitates, it may be left far behind in the wave of financial innovation.

<p class=)[](

The U.S. Federal Reserve (Fed) announced a 25 basis point rate cut at 2 AM on September 18, lowering the interest rate from 4.25%-4.50% to 4.00%-4.25%. This is the first rate cut by the Fed since last December, following five consecutive meetings this year where rates were kept unchanged, and it is expected to initiate a new wave of rate cuts.

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