The "King of Mergers and Acquisitions in China, Huaxing Capital," announced plans to invest 100 million USD into the Crypto Assets ecosystem over the next two years, with stock prices opening up 15%.

China Renaissance Capital Holdings Limited issued a voluntary announcement on June 26, announcing that the Board of Directors approved a $100 million "Crypto Asset Investment Plan" to grow its Web3 business and invest in crypto assets over the next two years. (Summary: Hong Kong Announces Digital Asset Development Policy Declaration 2.0: Towards a Global Crypto Center and Openness) (Background supplement: Hong Kong Shengli Securities completed the upgrade of the No. 1 license to "virtual asset trading services", and its stock price soared 230%) China Renaissance Capital Holdings Limited issued an announcement on the 26th, announcing that the board of directors has approved a $100 million "cryptocurrency asset investment plan" that is planned to be used to develop Web3 businesses and invest in cryptocurrency assets in the next two years. The announcement states: The Board of Directors of the Company hereby informs shareholders and potential investors of the Company that, after careful consideration, the Board of Directors has resolved to enter the Web3 and cryptocurrency asset space while stabilizing Huaxing's existing business, and has approved a total budget of US$100 million for the Group's development of Web3 business and investment in cryptocurrency assets over the next two years. Reasons to enter Web3 China Renaissance Capital pointed out that the move is in response to the Hong Kong government's active policies to promote the development of Web3 and cryptocurrency industries in recent years and seize the development opportunities of the digital economy. The announcement emphasizes that Web3 and cryptocurrency assets have great future potential, in line with global financial and business trends. At present, China Renaissance Capital has successfully invested in stablecoin issuer Circle and provided listing and financing services for a number of leading cryptocurrency companies, and plans to focus on the development of stablecoins, physical asset tokenization (RWA) and the development of the full chain ecosystem of cryptocurrencies. At the same time, China Renaissance Capital also said that it will actively apply for and upgrade relevant business licenses, strive to become a bridge between Web2 and Web3, and lead the integration of traditional finance into the wave of Web3 investment. According to the announcement, China Renaissance Capital's "Cryptocurrency Asset Investment Plan" will be funded by China Renaissance Capital's internal resources and cash reserves. The company said that it will prudently implement the investment plan according to market dynamics, business development and cash flow situation to ensure the efficiency of capital use and risk control. Or encouraged by this news, China Renaissance Capital opened 14.95% higher today and is now trading at HK$4.92, the highest share price since October 2024. What is China Renaissance Capital? China Renaissance Capital is a Hong Kong-based investment banking and investment management company focusing on China's new economy sector, covering technological innovation, venture capital and capital market services. According to publicly available information, China Renaissance Capital was established in 2005 and is mainly engaged in investment banking, investment management, wealth management and securities services. Its investment banking division provides M&A advisory, equity underwriting, sales, trading and research services; The investment management division focuses on fund and asset management, and manages the investment of its own funds. Related reports Hong Kong stock Guotai Junan "obtained Hong Kong crypto license" soared 90%, behind the Chinese national team? Hong Kong's "Stablecoin Law" came into effect on 8/1, HKMA Chief Executive Raymond Yue: Stablecoins are not speculative tools, three major thresholds constitute the moat of Hong Kong dollars Animoca Brands, Standard Chartered Bank and HKT have joined hands to prepare for the issuance of Hong Kong dollar stablecoins, aiming at cross-border payments "China's M&A king "China Renaissance Capital" announced that it will spend $100 million in two years to enter the cryptocurrency ecosystem, and the stock price is 15% higher" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".