Shun Tai Holdings has announced plans to invest HKD 70 million in the cryptocurrency sector, highlighting the interest of traditional companies in digital assets.
Shun Tai Holdings' Cryptocurrency Investment
Shun Tai Holdings stated its intention to invest 70 million Hong Kong dollars (approximately 9 million US dollars) in the cryptocurrency sector. The entire fund will be sourced from internal resources for cryptocurrency trading activities.
Asset Selection for Investment
The company has begun investing in Filecoin (FIL), purchasing tokens at prices ranging from $2.1 to $2.3. Additionally, Shun Tai Holdings has established a dedicated team to manage its virtual asset business, focusing on high-liquid cryptocurrencies with at least five years of history. Featured in its investment portfolio are Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Filecoin (FIL).
Market Trends in Cryptocurrency
In addition to the mentioned assets, the company plans to prioritize stablecoins such as USDT and USDC for portfolio diversification, with stablecoins accounting for at least 5% of the overall portfolio.
The strategic move by Shun Tai Holdings reflects the growing interest of traditional companies in Asia towards crypto assets and strengthens the integration of digital finance into mainstream investments.
