Hong Kong-listed medical services provider IVD Medical has said it will acquire HK$149 million ($19.1 million) of the digital asset Ethereum through Hong Kong’s first licensed retail virtual asset exchange platform HashKey Exchange, paving the way to build a Web3-based medical asset trading ecosystem by exploring the tokenization of medical assets.
The strategic collaboration will enable IVD Medical to build an Ethereum treasury. The crypto treasury-driven reserve system will be anchored in compliance, transparency and innovation and will use it to launch a Web3-enabled healthcare asset trading system.
As part of the initiative, HashKey Exchange will facilitate IVD Medical to make cost-effective Ethereum trade executions, provide liquidity provision support to IVD Medical for conducting large-scale transactions, and help IVD Medical to explore yield generation through tokenized assets.
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“We look forward to supporting IVD Medical in building its Ethereum treasury and exploring the tokenization of healthcare assets. Together, we aim to bridge the digital and real economies and contribute to Hong Kong's position as a global hub for financial innovation,” said Randall Chan, head of HashKey Exchange.
IVD Medical Chief Strategy Officer Gary Deng added: “The digital economy is the engine of future growth, and traditional industries must actively integrate to stay ahead in this new wave of technological transformation. By establishing as a leading Ethereum treasury player, we can strengthen our resilience against market volatility, and deliver long-term value to shareholders."
On Monday, the share price of IVD Medical opened 14.9 percent higher, extending its rally throughout the trading day as it soared 27.5 percent to close at HK$10 apiece, with a market turnover of HK$65.5 million.
In June this year, the Hong Kong Special Administrative Region (HKSAR) government unveiled Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, pledging to develop Hong Kong as a global innovation hub for digital assets by streamlining legal and regulatory aspects, expanding the suite of tokenized products, advancing use cases and cross-sectoral collaboration, and building capacity through talent and partnership development.
In particular, the Securities and Futures Commission (SFC) will be responsible for the upcoming licensing regimes for digital asset dealing service providers and digital asset custodian service providers, while Financial Services and the Treasury Bureau, and the Hong Kong Monetary Authority (HKMA) will spearhead a comprehensive legal review to facilitate the tokenization of real-world assets. The Hong Kong Monetary Authority initiated the Project Ensemble Sandbox in 2024 to further research and test tokenization use cases, including, among others, settlement of tokenized real-world assets.
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On August 1, Hong Kong implemented the Stablecoins Ordinance — the world's first dedicated legislation specifically governing fiat-referenced stablecoins. The legislation supervises activities involving stablecoins and introduces a licensing regime for regulated stablecoin activities in Hong Kong.
