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Baishida Holdings transforms into Web3, focusing on the layout of encryption assets and stablecoin business.
[Coin World] According to a notice from the Hong Kong Stock Exchange, Bestar Holdings Limited (1168.HK) announced that it will shift its strategic focus to the fintech-related fields, emphasizing areas including encryption assets, real-world assets (RWA), Web 3, and stablecoins. To better reflect its business positioning, the company intends to change its English name from "SINOLINK WORLDWIDE HOLDINGS LIMITED" to "Z Fin Limited", and after the name change, it will no longer use the Chinese name "百仕达控股有限公司" for identification purposes. Bestar pointed out that it has made relevant strategic arrangements through investments in Zhong An Online Property Insurance (6060.HK) and its joint venture, Zhong An Technology (International) Group Limited (ZA Global). Notably, ZA Global wholly owns Hong Kong's largest Digital Bank, ZA Bank, which is the first bank in Hong Kong to provide exclusive reserve banking services for stablecoin issuers, and has invested in the Monetary Authority's "stablecoin sandbox" participant, Yuan Coin Technology (RD Technologies).