New Continent: Establishing an overseas subsidiary and obtaining a US MSB license, covering scenarios such as cryptocurrency transactions

Blockbeats

07-01

BlockBeats News, July 1st, Newland (000997.SZ) announced that its wholly-owned subsidiary Hong Kong Xingyi Payment Co., Ltd.'s wholly-owned subsidiary NovaPay US Inc. has been established and has obtained the MSB license approved by FinCEN in the United States. NovaPay US Inc. has a registered capital of 1 US dollar, and its business scope includes currency exchange or transfer, including currency exchange and international remittance services.

The company's acquisition of the US MSB license aims to provide a legal access qualification for conducting cross-border fund business, covering scenarios such as currency exchange, remittance, digital currency transactions, etc., to provide infrastructure for connecting with global mainstream financial institutions, lay the foundation for the development of cross-border payment-related business, assist the company's global strategic layout, and contribute to achieving the vision of a leading digital business enterprise.

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