Huaxing Capital enters Web3 and will invest $100 million to develop related businesses and invest in cryptocurrency assets

According to Foresight News, Huaxing Capital Holdings announced on the Hong Kong Stock Exchange that its board of directors has decided to enter the Web3.0 and cryptocurrency asset fields, and approved a total budget of $100 million for the group to develop Web3.0 business and invest in cryptocurrency assets (cryptocurrency asset investment plan) over the next two years. The document shows that on the basis of successfully investing in Circle Internet Group and completing initial public offerings and multiple rounds of financing for multiple cryptocurrency companies, Huaxing Capital will increase its investment and development efforts in stablecoins, RWAs (Real World Assets), and the entire cryptocurrency ecosystem, and actively expand the application and upgrade of relevant licenses for the group.