According to a statement made to the Hong Kong Stock Exchange (HKEX), Shun Tai Holdings announced plans to invest 70 million Hong Kong dollars (approximately 9 million US dollars) in a new step towards the cryptocurrency sector.
Shun Tai Holdings Invests HKD 70 Million in Crypto
The company aims to use this fund entirely from internal sources for cryptocurrency trading activities.
The statement noted that the company has accelerated its preparations for cryptocurrency investments and has purchased a large amount of equipment to this end. It was also reported that Shun Tai Holdings has begun investing in Filecoin (FIL), purchasing between $2.1 and $2.3 per token.
The company has established a dedicated team to manage its virtual asset business. This team will primarily invest in high-liquid cryptocurrencies with at least five years of history. Featured cryptocurrencies in its investment portfolio include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Filecoin (FIL).
The company also prioritizes stablecoins like USDT and USDC for portfolio diversification. According to the official announcement, stablecoins will account for at least 5% of the portfolio.
This strategic move by Shun Tai Holdings reflects the growing interest of traditional companies in Asia in crypto assets and the stronger integration of digital finance into mainstream investments.
*This is not investment advice.