According to a statement made by Hong Kong, Sean Tae Holdings announced plans to invest $ 70 million from Hong Kong (about $ 9 million) in a new step towards the encrypted currency sector.
Shun Tai Holdings Invest 70 million Hong Kong in encryption
The company aims to use this fund completely from the internal sources of currency trading activities.
The statement indicated that the company has accelerated its preparations for cryptocurrency investments and bought a large amount of equipment to this end. It was also reported that Shun Tai Holdings has started investing in Filecoin (FIL), as he bought between $ 2.1 and $ 2.3 per code.
The company has established a team dedicated to virtual asset business management. This team will be invested primarily in highly liquid cryptocurrencies with at least five years of date. The cryptocurrencies in their investment portfolio include Bitcoin (BTC), ETHEREUM (ETH), Binance Coin (BNB), and Pilecoin (Fil).
The company also gives Stablecoins priority like USDT and USDC to diversify portfolios. According to the official announcement, Stablecoins will represent at least 5 % of the wallet.
This strategic step by Shun Tai Holdings reflects the growing interest of traditional companies in Asia in the assets of encryption and the strongest integration of digital financing in the prevailing investment.
*This is not an investment advice.