China Success Finance Group Holdings (HKG:3623) said it has signed a cooperation memorandum with Zhejiang DataQin Technology to jointly develop blockchain-based financial services, according to a Wednesday Hong Kong bourse filing.
Shares of the finance firm were down nearly 2% in late-morning Thursday trade.
The companies will work together on services for tokenizing real-world assets and on expanding the SimpleChain2.0 blockchain.
The partnership combines China Success Finance's financial licenses and resources with DataQin's blockchain technology to link traditional and decentralized finance.
China Success Finance said the cooperation will target markets in mainland China, Hong Kong, and internationally.