International Business Settlement (00147.HK) has announced the formation of a joint venture through its wholly-owned subsidiary, Cheng Tai, in partnership with Mr. Chen Sanming. The agreement, finalized on August 8, 2025, establishes a new company in which Cheng Tai will hold a 70 percent stake, while Mr. Chen will retain the remaining 30 percent. This collaboration is primarily focused on activities related to cryptocurrency assets. The strategic objective behind this joint venture is to strengthen the company’s position within the cryptocurrency sector and expand its footprint in this rapidly evolving market. Further details and the original announcement are available for review.

Source: binance