Recent Developments in Digital Currency
During a recent virtual meeting aimed at fostering engagement with investors, Chu Tianlong, a prominent executive in the company, was questioned about the advancements made in their digital currency endeavors in the first half of the year. In response, he outlined several key developments in the company’s strategy and performance in this burgeoning sector.
Key Developments
Firstly, he noted a significant uptick in the company’s digital currency system development, highlighting that several system platforms have already been successfully deployed at a banking institution. This initiative is part of a broader strategy to strengthen the company’s foothold in critical market segments, including digital currency hard wallets and the infrastructure for issuance and acceptance terminals.
Moreover, Chu emphasized the company’s commitment to forming strategic alliances with leading partners to enhance cross-border payment capabilities for the digital renminbi (RMB). This collaborative approach is particularly important as the company looks to leverage the new opportunities arising from the recent legalization of virtual asset transactions in Hong Kong.
Future Plans
In addition to these plans, Chu revealed that the firm is in the process of developing an eSIM management platform aimed at telecommunications operators. This platform will further integrate cross-border settlement solutions that utilize stablecoins alongside traditional SIM cards for affiliated banks.
Market Performance
While the revenue generated from the company’s digital currency business has shown promising growth compared to previous years, it still represents a relatively small fraction of the overall company earnings, indicating room for further expansion in this dynamic market.
