Jinyong Investment's stock listed in Hong Kong surged more than 530% following the news of the strategic collaboration to develop Stablecoin AxCNH.

Jinyong Investment and AnchorX have just signed a cooperation agreement to leverage the application of Stablecoin AxCNH, propelling the stock price to soar to a high of HK$15 during the session on July 8, 2024.

MAIN CONTENT

  • Jinyong Investment's stock rose over 530% in a single trading session.

  • The strategic cooperation between Jinyong Investment and AnchorX is related to Stablecoin AxCNH.

  • The application of Stablecoin AxCNH is the main driver behind the significant stock price increase.

Why did Jinyong Investment's stock surge on July 8, 2024?

The CEO of Jinyong Investment confirmed that the strategic collaboration with AnchorX on developing Stablecoin AxCNH is the direct cause of the stock rising more than 530%. This is a new milestone in the cryptocurrency finance field that investors highly appreciate.

Information released on July 8, 2024, shows that the stock once reached a price of HK$15, up more than 600% compared to the previous session, attracting attention from investors in the Hong Kong stock market.

What is the focus of the collaboration between Jinyong Investment and AnchorX?

The General Director of AnchorX confirmed the collaboration to develop Stablecoin AxCNH, a new type of Stablecoin designed to enhance stability and widespread use in financial transactions.

Stablecoin AxCNH will be researched and applied in DeFi products, helping to increase liquidity, minimize price volatility, and expand the cryptocurrency ecosystem in the Asian region.

This strategic partnership is not only a technological advancement but also a clear indication of growth and significant potential in the Stablecoin market in Asia.

Mr. Lương Minh, CEO of Jinyong Investment, stated on July 8, 2024.

What are the highlights of Stablecoin AxCNH compared to other Stablecoins?

A financial expert from a reputable research organization assesses that AxCNH possesses high stability due to its link with the Chinese Yuan (CNY) and the application of advanced Blockchain technology, enhancing safety and transparency.

Unlike many Stablecoins pegged to the USD, AxCNH provides an effective alternative for cross-border transactions while helping users minimize exchange rate volatility risks.

Criteria AxCNH Stablecoin Popular Alternatives (USDT, USDC) Base Currency Chinese Yuan (CNY) US Dollar (USD) Blockchain Technology Advanced, highly transparent Popular technology, complex structure Application Goals Enhance cross-border transactions in Asia Global prevalence, mainly in the US and European markets Stability Highly stable, less volatile due to CNY link Potential volatility according to USD

What is the impact of this collaboration on the Asian cryptocurrency market?

Analysis from the 2023 financial report indicates that the collaboration and development of Stablecoin AxCNH could enhance the adoption of cryptocurrencies in trade transactions, contributing to the expansion of the DeFi ecosystem in the region.

Moreover, this is expected to support businesses in reducing transaction costs and managing exchange rate risks more effectively.

The emergence of AxCNH marks an important turning point in promoting digital payments and cross-border e-commerce in the Asian region.

Economist Trần Văn Cường, Asian Financial Report, 2024

Frequently Asked Questions

What type of company is Jinyong Investment and what sector does it operate in?

Jinyong Investment is a publicly listed company in Hong Kong, specializing in investing and developing financial solutions related to cryptocurrencies and Blockchain.

What is Stablecoin AxCNH and how is it different?

AxCNH is a Stablecoin linked to the Chinese Yuan (CNY), aimed at price stability and promoting cross-border transactions in Asia.

What are the main benefits of the collaboration between Jinyong Investment and AnchorX?

The collaboration aims at developing AxCNH, improving stability, and expanding the application of Stablecoin in DeFi products.

By what percentage did Jinyong Investment's stock increase after the collaboration news?

Jinyong Investment's stock rose over 530% right in the session on July 8, 2024, reaching a peak of HK$15.

How does Stablecoin AxCNH affect the cryptocurrency market in Asia?

AxCNH helps boost cross-border digital transactions and expand the regional DeFi ecosystem, reducing exchange rate volatility risks.

Source: https://tintucbitcoin.com/jinyong-investment-tang-600-hop-tac-anchorx/

Thank you for reading this article!

Please Like, Comment, and Follow TinTucBitcoin to always stay updated with the latest news on the cryptocurrency market and not miss any important information!