Another Hong Kong company adds crypto to its treasury, but it wants to do more than passively to keep it.
IVD Medical Holdings has purchased $ 19 million (HK $ 149 million) of ether (Eth)Location of the asset at the center of the real world’s tokenization strategy.
The company builds IVD.xyz, a platform for tokenization of pharmaceutical intellectual property and other health assets that will run completely on Ethereum -smart contracts.
In a statement to Coindesk, Chief Strategy Officer Gary Deng said Ethereum was chosen as the central asset because it is “the world’s most mature smart contract platform” with “extremely high liquidity” and growing institutional recognition and pointing to the US SEC’s approval of a Spoteth ETF.
IVD plans to use ETH to confirm ownership of ownership, automated revenue distribution and compliance management of tokenized assets.
It will also serve as the settlement layer for the company’s planned IVDD stableCoin, which enables cross-border transactions within Hong Kong and US compliance frameworks. Revenue from RWA transactions is automatically converted to ETH and deposited to the Treasury.
IVD also intends to implement ETH in effort, restoration and on-chain derivatives to increase return and liquidity while adding downward protection. The move puts IVD together with a small group of HKEX-listed companies with crypto-state boxes, most of which favors Bitcoin
.
Boyaa Interactive (0434.HK) Holds more than 3,100 BTC worth $ 300 million after converting almost all its ether to Bitcoin. MEITU (1357.HK) Bought about 31,000 ETH and 940 BTC in 2021 before they leave these positions.
Other minor bitcoin -holders include Yuxing InfoTech (8005.HK) with 78 BTCAt Moon Inc. (1723.HK) with 18.88 BTC and Walnut capital (0905.HK) with 10 BTC from a shareholder donation.
IVD’s relocation was made as part of a broader partnership announcement with Hashkey Group, which operates Hong Kong-Licensed Hashkey Exchange.
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