Blockchain
HDFH Launches Global Digital Bank Consortium Blockchain Investment Fund at CIIE
The 2019 International Financial Cooperation Forum was held at the National Exhibition and Convention Center (Shanghai) during the 2nd China International Import Expo (CIIE). Shenzhen Hande Financial Technology Holdings Co., Ltd (HDFH) Chairman Cao Tong was invited to attend the event and delivered a keynote speech entitled “Global Investment Opportunities for China’s Digital Banks”.
At the forum, HDFH formally launched the Global Digital Bank Consortium Blockchain Investment Fund. The fund, initiated by HDFH, Yillion Bank and Zhongguancun Private Equity & Venture Capital Association (ZVCA) in collaboration with domestic and international investors, will invest in digital banks and proven fintech infrastructure platforms worldwide, as well as integrate the capabilities of the three parties’ management teams to facilitate the upgrading of investment targets, ultimately maximizing value in the capital markets.
“Based on the investors’ accumulation of experience in the fintech sector, the fund plans to invest in and create a leading digital bank, through which it will build a global digital bank consortium blockchain. The first step is to invest in and digitally transform a bank. The second step is to build a global digital bank consortium blockchain, with the digitally transformed bank as the main node.” HDFH Chairman Cao Tong said.
The size of Global Digital Bank Consortium Blockchain Investment Fund will be around US$1 billion with a term consisting of a 6-year investment phase and 2-year exit phase.The fund will initially invest in and digitally transform a bank, which will then serve as the main node of the global digital bank consortium blockchain.
“The fund empowers the targets through investment and fintech transformation, while building an innovative global digital bank consortium blockchain, achieving broader value for the participating digital banks.” Mr. Cao added.
HDFH, a leading fintech firm in China, has extensive fintech and blockchain technology reserves and operational experience and is an enabler of the digital transformation of banks and of consortium blockchain technology. Shenzhen Jia Asset Management, a subsidiary of HDFH, is the first fintech equity fund manager in China with extensive experience in investment management. In concert with Shenzhen-based state-owned enterprises, district governments, public companies, industry groups and commercial banks, Shenzhen Jia Asset Management has set up two fintech innovation and venture capital funds.
Yillion Bank is one of four internet banks in China to receive permission from the government to engage in online credit business. The bank has solid operational capacity through partnerships with Meituan, JD Finance, Xiaomi Finance and Du Xiaoman Financial. ZVCA brings to the table a large number of investment resources including public companies, financial groups and corporate investment firms. ZVCA’s members collectively have more than US$300 billion of funds under management.
HDFH, Yillion Bank and ZVCA plan to build a groundbreaking global consortium blockchain that includes digital banks and proven fintech firms to achieve what they are referring to as delivering value through the establishment of a digital connection. The Global Digital Bank Consortium Blockchain Investment Fund now plans to invest in digital banks in mainland China,Singapore and Australia, among other countries and regions.
SOURCE HDFH
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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