China Financial Leasing Group to Invest $11.14M in Web3 and AI
China Financial Leasing Group, listed in Hong Kong, has announced plans to raise $11.14 million through a share issuance to invest in web3, AI, and a new cryptocurrency platform. The company will issue 69.379 million shares, with the funds directed towards digital assets such as stablecoins, Bitcoin, and Ethereum. Following this announcement, the company's stock rose by nearly 20% on October 6.
The firm intends to establish a digital investment platform to facilitate trading in NFTs, DeFi, and real-world assets. This move is part of a growing trend among Hong Kong companies exploring cryptocurrency initiatives, despite warnings from the Hong Kong SFC about potential fraud risks in the sector.