MultiMetaVerse and Zhenghe jointly establish GOLD ABC in Hong Kong and make a strategic investment in it
2024-08-29 06:07:14
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MultiMetaVerse Holdings Limited (MMV) announced the establishment and strategic investment of GOLD ABC DIGITAL TECHNOLOGY CO., LIMITED (GOLD ABC) in Hong Kong with ZHENGHE HOLDING CO., LIMITED. The specific amount and valuation have not been disclosed yet. It is reported that the two parties will use the expertise of both parties in fintech, blockchain and traditional finance to realize the appreciation of their own assets through algorithms. GOLD ABC has borrowed 500 bitcoins from ZHENGHE at the beginning of this month, with an average of $60,000 per bitcoin. The loan period is one year and the annual interest rate is 8%. The company will use its mature AI algorithm for secondary market transactions to manage and improve the value of these assets. GOLD ABC also plans to open positions and buy gold in the next three months.
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