Hong Kong-listed company Multi-Point Intelligence completed a placement of HKD 393 million, with part of the proceeds used for investment in stablecoins and blockchain research and development

ChainCatcher news, Hong Kong listed company Multi-Point Smart (02586.HK) announced the completion of a HKD 393 million placement, with 50% of the net proceeds allocated for research and development investment in stablecoins and blockchain technology advancements, specifically to cover the employee costs of the company's blockchain experts, in order to develop and maintain relevant systems and interfaces related to new business development (including various systems in trading, reserve management, settlement, clearing, compliance, and issuance). These funds are expected to be utilized by the end of 2026.