MultiPoint Intelligence (Stock Code: 02586) opened nearly 15% higher today, following yesterday's intraday surge of nearly 90% before closing with a 23.64% gain. As of reporting, the stock rose 8.08% to HK$12.04, with a trading volume of HK$135 million.
Stablecoin License Application in Progress
On the evening of July 3, MultiPoint Intelligence announced that the group is preparing to apply for a stablecoin license. The company has also purchased Bitcoin (BTC) through the public market HashKey Exchange. These funds were sourced from the company's existing cash reserves (excluding remaining proceeds from its initial public offering).
The announcement highlighted Hong Kong's significant achievements in Web3 and the favorable regulatory environment created by the government to support sustainable development in the Web3 industry. MultiPoint Intelligence expressed strong confidence in Hong Kong's Web3 future, describing it as a high-potential emerging market.
Key Developments and Market Confidence
- Strategic Investment in Crypto: The purchase of Bitcoin underscores the company's commitment to exploring digital asset opportunities.
- Regulatory Alignment: Hong Kong's progressive stance on Web3 and stablecoin regulation provides a robust framework for innovation.
- Market Potential: The growing Web3 sector in Hong Kong offers substantial growth prospects for forward-thinking companies.
👉 Explore the latest trends in Web3 and stablecoin regulations
FAQs
Why is MultiPoint Intelligence applying for a stablecoin license?
The company aims to leverage Hong Kong's supportive regulatory environment to establish a foothold in the burgeoning Web3 and digital asset sectors.
How did MultiPoint Intelligence fund its Bitcoin purchase?
The acquisition was funded from existing cash reserves, specifically excluding leftover IPO proceeds.
What are the implications of Hong Kong's Web3 policies for MultiPoint Intelligence?
Hong Kong's clear regulatory framework and government support create a stable and promising ecosystem for Web3 businesses, aligning with MultiPoint Intelligence's growth strategy.
👉 Learn more about investing in digital assets
Conclusion
MultiPoint Intelligence's strategic moves reflect its confidence in Hong Kong's Web3 landscape and its commitment to expanding into digital assets. With a stablecoin license application underway and a proactive approach to market opportunities, the company is well-positioned for future growth.