Synerstone Communication Corporation has agreed to start a unified business to manage a digital asset trading platform in Hong Kong.
Synertone has teamed up with a joint venture, Jade Power Lab Technology Group Limited, to take advantage of Hong Kong’s virtual asset market and create new sources of income.
SynerTone’s direct subsidiary will have a majority stake in Jade Power. JPEX Holdings Limited, a technology company owned by a joint venture partner, will offer blockchain technology services for setting up and running the VATP. This will make use of JPEX’s technology and their expertise in running virtual asset exchanges.
Jade Power, a company that has been running a VATP in Hong Kong since May 2023, will keep going with its services, as per the new VATP licensing regulations that took effect on June 1st, 2023. The operation of the scheme will be taken care of by a subsidiary that’s fully owned by Jade Power.
Synertone Communication Corporation was created in the Cayman Islands in 2006. It is a company with limited liability. And its shares were listed on the Main Board of The Stock Exchange of Hong Kong in 2012. The Operator wants to apply for the licenses that are needed to run the VATP in Hong Kong. To do so, they are trying to make sure they meet the licensing requirements established for all licensed VATPs.
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