IVD Medical (HKG:1931) said it was pursuing a web3 exchange focused on tokenizing its intellectual property and planned to issue its own cryptocurrency, according to a Hong Kong bourse filing Thursday.
Shares of the medical equipment seller jumped over 7% in morning trade Friday.
The company said it planned to build a so-called real-world asset tokenization trading platform based on its drug pipeline, and that the IVDD stablecoin will serve as the transaction medium for trading the tokenized drug assets.
The company is preparing to seek regulatory approval in Hong Kong for a stablecoin license as well as in the U.S. where it also plans to seek a share listing.
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