GCL Technology (HKG:3800) said it entered a preliminary agreement with a China Pacific Insurance (HKG:2601, SHA:601601) unit to develop solutions for the tokenization of real-world assets, according to a Hong Kong bourse filing Thursday.
Shares of the solar panel company gained nearly 2% in afternoon trade Friday.
The company entered a memorandum of understanding with CPIC Investment Management (H.K.) to explore the development of RWA middle-office infrastructure and building a network of digital asset investment.
Both sides will now negotiate a final agreement before moving ahead with the plans.
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