WEB3
by BSCN
December 8, 2023
Directors aim to allocate $45 million to Bitcoin, $45 million to Ethereum, and $10 million to stablecoins like Tether and USD Coin.
Hong Kong-based Boyaa Interactive International Limited is set to vote on a $100 million crypto investment plan on December 20.
The proposal, to be discussed at a special general meeting, outlines the allocation of funds, with $45 million each for Bitcoin (BTC) and Ethereum (ETH) and $10 million for stablecoins like Tether (USDT) and USD Coin (USDC). Boyaa Interactive recognizes the logical fit between Web3 technology and its internet gaming business with this move.
The upcoming shareholder vote not only impacts the company's financial strategy but also signals a growing acceptance of cryptocurrencies in traditional corporate structures.
In Q3 2023, Boyaa Interactive reported $14 million in revenue and $4.2 million in earnings, with a daily active player base of 1.18 million across its 75 online games, including Texas Hold’em casino.
A recent study conducted by Forex Suggest has reaffirmed Hong Kong's position as the most crypto-ready country globally.
Further, the Hong Kong Monetary Authority (HKMA) is set to introduce its second tokenized green bond in the coming weeks to reinforce the city's commitment to digital finance. Utilizing blockchain technology for enhanced efficiency and transparency, the bond is expected to coincide with "Green Finance Week" in February 2024.
HKMA Chief Executive Yu Weiman revealed the plans, aligning with the government's dedication to green finance and organizing a global climate business forum during the event.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Latest News
0h : 53m ago
OKX Ventures, The Open Platform, and Folius Ventures Launch $10M Telegram Growth Hub
October 29, 2024
Is Bitcoin Set to Soar Even Higher?
October 29, 2024
DWF Labs Dismisses Partner Amid Drink-Spiking Allegations in Hong Kong
October 29, 2024
Visa and FV Bank Debut New Debit and Expense Cards, Bridging Crypto and Fiat Global Payments
October 29, 2024
Bitcoin Surges Past $71,000: What Could be the Possible Reasons?
October 29, 2024
Hong Kong Expands Tax Incentives to Include Virtual Assets, Targeting Institutional Investors
October 28, 2024
Dogecoin Surges Amid Musk and Trump Connections
October 28, 2024
Could Robinhood’s U.S.-Only Election Market Predict Results Better by Excluding Foreign Influence?