Another Hong Kong company is adding cryptography to the Ministry of Finance, but wants to do more than passively retain it.
IVD Medical Holdings purchased $19 million ($149 million) The ether (eth)place assets at the heart of real-world asset tokenization strategies.
The company is building IVD.xyz, a platform for tokenizing pharmaceutical intellectual property and other medical assets.
In a statement to Coindesk, Chief Strategy Officer Gary Deng said that Ethereum was chosen as a core asset as it is the “world’s most mature smart contract platform” with “very high liquidity” and growing institutional awareness.
IVD will use ETH to verify chain ownership of tokenized assets, to automatically generate revenue and compliance governance.
It also serves as the payment layer for the company’s planned IVDD Stablecoin, which allows cross-border transactions within Hong Kong and within the US compliance framework. Revenues from RWA transactions are automatically converted to ETH and deposited in the Ministry of Finance.
IVD will also deploy ETH to staking, restaking and on-chain derivatives to increase returns and fluidity while adding downside protection. The move places IVD along with a small group of companies registered with HKEX, which has the Crypto Ministry of Finance.
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Boyaa Interactive (0434.hk) After converting almost all of the ether into Bitcoin, it holds value over USD 3,100. daughter (1357.hk) I bought about 31,000 ETH and 940 BTC in 2021 Before you finish those positions.
Other small bitcoin holders include Yuxing Infotech (8005.hk) 78 at BTC, Moon Inc. (1723.hk) 18.88 BTC, and Walnut capital (0905.hk) 10 BTC from shareholder donations.
The IVD move came as part of announcing a broader partnership with Hashkey Group, which operates the hashkey exchange in Hong Kong.
Read more: Sharplink raises $200 million direct products to boost ETH Holdings to $20 billion
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