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PolyDigital has completed a placement of HKD 393 million, with 50% of the funds allocated to stablecoin and blockchain research and development.

PolyDigital has completed a placement of HKD 393 million, with 50% of the funds allocated to stablecoin and blockchain research and development.

2025-07-25 22:38

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ChainThink reports: According to the Hong Kong Exchanges and Clearing (HKEX) announcement, Dadian Digital Technology Co., Ltd. has completed the placement of 393 million HKD. The net proceeds from this placement, 50% will be used for R&D investment in stablecoins and blockchain technology, with all funds intended to cover the employee costs of the company's blockchain experts to develop and maintain relevant systems and interfaces related to new business development (including various systems in the areas of trading, reserve management, settlement, clearing, compliance, and issuance). These funds are expected to be utilized by the end of 2026. The main source of revenue for this potential new business will be investment returns from stablecoins. The company plans to invest the fiat currency received from stablecoin issuance into low-risk assets permitted by law to generate investment returns. In addition, the company expects to generate revenue through transaction fees, provision of technical services, and potential licensing of blockchain payment infrastructure.

Disclaimer: Contains third-party opinions, does not constitute financial advice

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