Hong Kong Stock Alert | YUNFENG FIN (00376) Surges Over 6% Again as Company Partners with Anthea to Explore Blockchain-Based Insurance Products

Stock News
10/06

YUNFENG FIN (00376) surged over 6% again, rising 3.71% to HK$6.43 at the time of writing, with trading volume reaching HK$243 million.

On the news front, YUNFENG FIN recently announced its strategic investment in and partnership with Anthea, a global cryptocurrency life insurance company. According to the memorandum, the Group and Anthea will jointly explore blockchain-based insurance products, covering compliance-related processes and services for digital asset users, including cryptocurrency life insurance products, as well as savings and retirement insurance based on ETH and BTC. Both parties will also explore the digitization of traditional insurance policies to build an efficient and forward-looking insurance business model.

Notably, on September 9th, YUNFENG FIN announced that its wholly-owned subsidiary Yunfeng Securities Limited received approval from the Hong Kong Securities and Futures Commission to upgrade its existing Type 1 (securities dealing) regulated activity license. Following this upgrade, Yunfeng Securities will be able to provide virtual asset trading services to retail and professional investors, allowing clients to trade digital assets directly on YUNFENG FIN's trading platform.

Previously, YUNFENG FIN entered into a strategic cooperation agreement with Ant Digital Technology. Meanwhile, YUNFENG FIN Group made a strategic investment in Pharos Network Technology Limited. Both parties will jointly expand into compliant real-world asset (RWA) tokenization and Web3 fields through Pharos's high-performance public blockchain platform.

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