CNHC Group, CNHC stablecoin Source, has raised $10 million in Series A+ financing. KuCoin Ventures, a digital investment firm round.
Ramp up web3 investments
KuCoin Ventures led the Series A+ capital funding round with Other investors, including IDG Capital and Circle Ventures. Justin Chu, chief investment officer of KuCoin and lead At KuCoin Ventures, it was mentioned that the investment was part of Kucoin Venture is bigger strategy to invest in web 3 in your father region.
he also He mentioned that Hong Kong has strength financial The environmental system and that when the regulations and new Policies for next-generation digital assets Is performed cityThe country can become the world’s encryption center.
CNHC Funding round He was active since last March and close in August, according to founder Joy Sham. he added collected by the company millions of dollar in the last Two years. However, it was not disclosed amount in the details.
The $10 million fund will allow CNHC to develop stablecoinespecially in Asia. Hence the company plans To move its headquarters from the Cayman Islands to Hong Kong.
Hong Kong attracts cryptocurrency platforms
Sham said the company wants to be a part of Hong Kong ecosystem web3 foundation and infrastructure. In addition, CNHC will list the stablecoin on more Centralized and decentralized exchanges are growing on- and off -ramp services.
company for that effectwants to grow in team of about 60 people. It is looking to recruit across functions such as Compliance, Operations and business development.
Meanwhile, KuCoin Ventures has revealed its $10 million investment in Conflux early last year. Notably, Conflux also It raised an additional $10 million from DWF Labs.
Hong Kong recently stated its ambition to become a cryptocurrency hub by raising retail cryptocurrency trading ban. Paul Chan, Hong Kong financial secretarystated that he would create and lead a task force to work on virtual-asset development to bring about responsible and sustainable sector development.
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