One other Hong Kong firm is including crypto to its treasury, nevertheless it desires to do greater than passively maintain it.
IVD Medical Holdings has bought $19 million (HK$149 million) of ether (ETH), positioning the asset on the heart of its real-world asset tokenization technique.
The corporate is constructing ivd.xyz, a platform for tokenizing pharmaceutical mental property and different healthcare belongings, which can run completely on Ethereum sensible contracts.
In a press release to CoinDesk, Chief Technique Officer Gary Deng mentioned Ethereum was chosen because the core asset as a result of it’s “the world’s most mature sensible contract platform” with “extraordinarily excessive liquidity” and rising institutional recognition, pointing to the U.S. SEC’s approval of a spot ETH ETF.
IVD plans to make use of ETH for on-chain possession affirmation, automated income distribution, and compliance governance of tokenized belongings.
It’s going to additionally function the settlement layer for the corporate’s deliberate IVDD stablecoin, enabling cross-border transactions inside Hong Kong and U.S. compliance frameworks. Income from RWA transactions might be mechanically transformed into ETH and deposited into the treasury.
IVD additionally intends to deploy ETH into staking, re-staking, and on-chain derivatives to spice up returns and liquidity whereas including draw back safety. The transfer places IVD alongside a small group of HKEX-listed corporations with crypto treasuries, most of which favor bitcoin
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Boyaa Interactive (0434.HK) holds greater than 3,100 BTC value over US$300 million after changing practically all of its ether to bitcoin. Meitu (1357.HK) purchased about 31,000 ETH and 940 BTC in 2021 earlier than exiting these positions.
Different smaller bitcoin holders embrace Yuxing InfoTech (8005.HK) with 78 BTC, Moon Inc. (1723.HK) with 18.88 BTC, and Walnut Capital (0905.HK) with 10 BTC from a shareholder donation.
IVD’s transfer was made as a part of a broader partnership announcement with HashKey Group, which operates the Hong Kong-licensed HashKey alternate.
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