Huaxing Capital enters Web3, planning to invest $100 million to develop related businesses and invest in encryption assets.

On June 26, Huaxing Capital Holdings announced on the Hong Kong Stock Exchange that the board of directors has decided to make a strong push into the Web3.0 and Crypto Assets sectors, and approved a budget of $100 million to be used over the next two years for the group to develop Web3.0 business and invest in Crypto Assets (Crypto Assets investment plan). The document shows that based on successful investments in Circle Internet Group, as well as completing IPOs and several rounds of financing for multiple Crypto Assets companies, the group will increase its investment and development in stablecoins, RWA (real-world assets), and the entire Crypto Assets ecosystem, and actively expand the applications and upgrades of related licenses.