Listed Hong Kong medical company, IVD Medical, allocates its Ethereum treasury and partners with HashKey Exchange

IVD Medical Embraces Web3 Technologies and Expands Global Presence

IVD Medical, also known as Huajian Healthcare (1931.HK), has made a significant move into the world of Web3 technologies. The leading medical diagnostics provider in China has recently announced its entry into the digital assets realm with a series of strategic initiatives.

One of the key moves is the initiation of the "Global Enhanced Ethereum (ETH) Vault" strategy. IVD Medical purchased 5,190 ETH for HK$149 million (approximately $19 million) via HashKey Exchange. This move marks a significant step for the company as it ventures into the digital assets market.

In addition to its Ethereum investment, IVD Medical is planning to launch an exchange focused on trading tokenised real-world assets (RWAs). The exchange, named ivd.xyz, aims to address challenges in medical and pharmaceutical research by leveraging its extensive hospital network in China and global asset acquisition capabilities.

IVD Medical is also planning to launch a stablecoin called IVDD. The company's subsidiary in the U.S. has been incorporated to oversee and implement ivd.xyz's strategy. The subsidiary will initiate a stablecoin license application under the GENIUS Act, and IVD Medical intends to apply for a stablecoin issuer license in Hong Kong.

IVD Medical's network includes 351 direct customers, 1,253 distributors, and 1,674 Class III hospitals, which account for approximately 70% of such hospitals in China. These hospitals are typically large, comprehensive facilities often affiliated with universities.

The company's stock price has more than tripled since 14 July, reflecting the market's positive response to its Web3 initiatives. IVD Medical aims to become the leading public company in Hong Kong in terms of ETH reserves and plans to increase its reserves through regular and quantitative purchases.

IVD Medical's foray into Web3 technologies could set a precedent for mainland Chinese companies experimenting with these technologies outside of China. If successful, IVD could be the poster company for this trend.

Furthermore, IVD Medical has disclosed plans for relevant license applications in places like Singapore and Europe. The company Linklogis, another player in the stablecoin market, also plans to apply for a license for stablecoin issuance in Hong Kong and may submit additional license applications in Singapore and Europe. They aim to develop compliant stablecoin initiatives and expand digital asset services globally, especially in supply chain finance and cross-border digital payments.

IVD Medical's strategic partnership with HashKey, a leading Hong Kong digital assets exchange, further strengthens its position in the digital assets market. This partnership is expected to bring synergies and opportunities for both parties as they navigate the rapidly evolving digital assets landscape.

As IVD Medical continues to execute its Web3 strategy, it will be interesting to see how this traditional medical diagnostics provider adapts to and thrives in the digital assets world.

Listed Hong Kong medical company, IVD Medical, allocates its Ethereum treasury and partners with HashKey Exchange