IVD Medical (HKG:1931) established a US subsidiary as part of a broader effort to launch its own cryptocurrency, according to a Hong Kong bourse filing Sunday.
Shares of the medical equipment seller jumped nearly 31% in morning trade Monday.
The move follows the signing of the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or Genius Act, by US President Donald Trump.
IVD Medical's US subsidiary is laying the groundwork for pursuing a stablecoin license in the country, IVD Medical said.
The company previously said it was pursuing a web3 exchange focused on tokenizing its intellectual property and planned to issue its own stablecoin as part of that process.
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