geely

According to reports from the newspaper, Geely Technology Group, a subsidiary of Geely Automobile, plans to convert rare Huanghuali wood into tradable RWA (Real World Asset) tokens.The company's chief representative in Hainan, Zhao Xiaobao, stated that this move could provide financial support to industries facing cash flow pressures. Geely Technology intends to issue the first batch of tokens in Hong Kong in the coming months, aiming to raise 100 million yuan.

Chain Catcher news, the Swiss non-profit organization Concordium Foundation will invest 10 million euros (approximately 9.97 million USD) in Concordium blockchain-related ecological projects. This funding will be used to support projects that wish to build or integrate their DApps on Concordium. Concordium is a PoS blockchain that aims to address the fourfold dilemma of scalability, security, decentralization, and regulation.Previously, Chain Catcher reported in February last year that the Concordium Foundation signed a cooperation agreement with Geely Holding Group, where both parties will establish a joint venture in China. According to the agreement, Geely Holding and Concordium will hold 80% and 20% of the shares in the joint venture, respectively, and will jointly operate and manage it. The joint venture will leverage Concordium's blockchain technology to provide blockchain-based business models and distributed applications (DApps) to Chinese clients, including those in the automotive industry. (Source link)