Hong Kong fintech firm AlloyX has announced a merger agreement with Nasdaq-listed Huaying Holdings, valuing the combined entity at $350 million. The merger aims to establish a financial ecosystem centered around stablecoins. Prior to the merger, AlloyX completed a funding round with investors including Fenbushi Capital and Arbitrum Foundation. Huaying Holdings' chairman stated that all shareholders will voluntarily commit to a 12-month lock-up period post-merger. AlloyX specializes in global stablecoin payments and asset tokenization, focusing on integrating traditional banking with blockchain services.