Ethereum News Today: Hong Kong Firm Joins Crypto Push with 70% Joint Venture Stake

Generated by AI AgentCoin World
Friday, Aug 8, 2025 9:07 am ET1min read
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Aime RobotAime Summary

- Hong Kong-listed International Business Settlement (00147.HK) forms a 70% stake joint venture with Chen Sanming to explore crypto transactions and blockchain-based settlement infrastructure.

- The move aligns with growing institutional interest in crypto, as seen in IVD Medical's HK$149M Ethereum investment and Standard Chartered's stablecoin licensing partnership with Animoca Brands.

- Hong Kong's evolving regulatory environment is fostering fintech innovation, with traditional firms increasingly adopting blockchain solutions for cross-border financial services.

- The sector's expansion reflects a strategic shift toward digital asset integration, positioning Hong Kong as a regional hub for crypto innovation amid maturing regulatory frameworks.

International Business Settlement (00147.HK), a listed company on the Hong Kong Stock Exchange, has entered into a joint venture with a private individual, Mr. Chen Sanming, to establish a new entity focused on cryptocurrency-related activities [1]. The joint venture, which will be registered with a 70% stake held by International Business Settlement’s wholly-owned subsidiary, Chengtai, and a 30% stake by Mr. Chen, aims to explore opportunities in the digital asset space [1]. The venture’s primary focus will be to facilitate transactions involving crypto assets and to develop infrastructure for international business settlement using blockchain technology [1]. This marks a strategic pivot for the company, as it seeks to capitalize on the growing institutional interest in cryptocurrency and aligns with broader market trends of traditional financial firms expanding into the digital asset ecosystem [1].

The move reflects a broader trend of Hong Kong-based firms entering the crypto sector through partnerships and strategic investments [1]. Earlier, IVD Medical Holdings Limited, another Hong Kong-listed company, invested HK$149 million in

Ethereum
via the HashKey Exchange, highlighting the increasing legitimacy of crypto assets as part of diversified investment portfolios [3]. The investment also underscores the growing collaboration between traditional industries and blockchain infrastructure providers to drive innovation [3].

In parallel, Standard Chartered Bank (Hong Kong) has partnered with Animoca Brands and HKT to apply for a stablecoin issuer license in the city [4]. The initiative is intended to support the issuance of stablecoins for cross-border financial services and aims to leverage Hong Kong’s evolving regulatory environment to foster fintech and crypto innovation [4]. These developments collectively indicate that the Hong Kong financial sector is becoming increasingly open to blockchain-based solutions, with both institutional and corporate players actively engaging in the space [1][3][4].

As traditional financial entities continue to explore crypto assets beyond speculative use, the integration of digital currencies into settlement, trading, and asset management systems is gaining momentum [1]. With regulatory frameworks gradually maturing, Hong Kong is positioning itself as a regional hub for cryptocurrency innovation, attracting a range of participants from across the financial and technology sectors [1].

Source:

[1] Binance, International Commercial Settlement negotiates crypto

(https://www.binance.com/en/square/post/08-07-2025-27989723504185)

[2] XT.com, Standard Chartered Launches Stablecoin Venture in Hong

(https://www.xt.com/en/blog/post/standard-chartered-launches-stablecoin-venture-in-hong-kong)

[3] Thailand, HK-listed IVD Medical Invests HK$149M in Ethereum

(https://www.thailand-business-news.com/pr-news/hk-listed-ivd-medical-invests-hk149m-in-ethereum-through-hashkey-exchange)

[4] XT.com, Standard Chartered Launches Stablecoin Venture in Hong