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Crypto Custodian Hex Trust Raises $88M in Latest Series B Funding
Hong-Kong-based institutional custody service Hex Trust has raised $88 million in a Series B funding round co-led by Animoca Brands and Liberty City Ventures. The round includes both primary capital of $61 million and secondary investment of $27 million. In addition to Animoca Brands and Liberty City Ventures, other investors to participate in the round included Ripple, Terra, BlockFi, CoinList, Wintermute, Morgan Creek, Sino Global Capital, Primavera Venture Partners among others. Prior backers, including Kenetic Capital, HashKey Capital, and Fenbushi Capital, also joined the round. With the fresh funds, Hex Trust now looks towards expanding in the Middle East and Europe in addition to scaling its current team of 100 people to around 160 by the end of this year. Series B featured in @Bloomberg "#Blockchain will become the new infrastructure of the #financialmarkets, which requires institutional players providing infrastructure for institutional investors.”https://t.co/f50XWnK8aX — Hex Trust (@Hex_Trust) March 16, 2022 The latest Series B round brings Hex Trust’s total funding valuation to date to over $100 million. The company didn’t provide a specific valuation with this round but said it’s “10 times more” than the valuation at the time of its Series A round, which was $30 million which translates to at least a $300 million valuation currently. Licensed Crypto Firm in Singapore and Hong Kong Founded in 2018, Hex Trust offers crypto custody, staking, brokerage, and financing services to institutional clients with its licenses in Hong Kong and Singapore. The company has a capital markets services license from the Monetary Authority of Singapore and is registered as a trusted company in Hong Kong. Over the past year, Hex Trust has worked on blockchain projects like Algorand, Terra, Tezos, and Celo, as well as institutions like the UnionBank of the Philippines.
The post Crypto Custodian Hex Trust Raises $88M in Latest Series B Funding appeared first on Cryptoknowmics-Crypto News and Media Platform.
Far East Horizon Announces 2021 Annual Results
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Financial Review
Looking back on 2021, amid complex domestic and international situations and various risks and challenges, China has consistently executed deep-rooted macro policies with a high level of openness, a flexible monetary policy and moderate liquidity. The stable macro environment in China provided favorable external conditions for the Group's sustainable and steady development during the period. In 2021, the Group recorded a total revenue of approximately RMB33.64 billion, achieving a rapid year-on-year growth of 15.85%. The financial and advisory segment maintained steady growth. Structurally, financial services continued to grow but the advisory services slightly declined. The industrial operation segment grew exponentially by 29.78%. Profit for the period attributable to the holders of ordinary shareholders of the Group during the period under review was approximately RMB5.51 billion, representing a year-on-year increase of 20.47%. The basic earnings per share was 1.36 RMB per share, and the average return on equity (ROE) was 14.57%. Overall, the Group has achieved a rapid growth. The board of directors of the Group passed the proposal of recommending a final dividend for year 2021 of HKD $0.42 per share.
During the period under review, the Group's financial structure continued to be optimized, and the non-leasing business accounted for 48.75% of total revenue (before taxes and surcharges), which continued to increase from 46.90% in 2020. Interest income contributed by new businesses such as inclusive finance, commercial factoring, PPP investment, overseas financing, and asset business accounted for 5.49% (2020: 3.54%); revenue from advisory services accounted for 9.41% (2020: 13.15%); the industrial operation segment accounted for 33.85% (2020: 30.21%).
Deep Rooted Growth in Financial Leasing Is Realized alongside Rapid Expansion in Other Financial Services
In terms of financial and advisory segment, the Group continued to penetrate in nine key industries, continued to enhance the service value, and accurately controlled the pace of business development, achieving growth in annual operating performance and customer base. For business operation, the iterative service model has been continuously upgraded, and more than 100 regional business units have been fully mobilized to track and tap over 100,000 target customers. Operationally, it will enhance service coverage and response time. Also, it will improve the efficiency of the entire project process through technological empowerment and project management. Based on the Group's resource endowment and system advantages, the product enhances the flexibility of multiple products and serves the diversified financing needs of different scenarios, different stages, and different customers. At the same time, services such as inclusive finance, PPP investment, asset management, overseas financing, and PE investment continued to amplify the growth. The boundaries of business formats continued to expand, and incremental value is shown.
In 2021, revenue (before taxes and surcharges) of the financial and advisory segment revenue was RMB 22.35 billion, representing a year-on-year increase of 9.77%, accounting for 66.15% of the total revenue (before taxes and surcharges). Among them, new businesses such as inclusive finance, factoring, PPP investment, overseas financing, and asset management contributed RMB 1.86 billion in interest income, a year-on-year increase of 79.78%.
In 2021, the Group's net interest spread was 3.21%, an increase of 36 basis points from 2.85% in the previous year. The increase in net interest spread was mainly due to a decrease of 22 basis point in the average cost of the Group's interest-bearing liabilities, while the average yield on interest-earning assets increased by 14 basis points.
The Group has consistently implemented a stable asset management policy and adopt a strict and conservative asset classification policy. At the end of 2021, the Group's assets under special mention accounted for 8.09%, a decrease of 1.47% from 9.56% in the same period last year. During the reporting period, asset quality has been improved. The non-performing asset ratio of the Group decreased slightly, and the overall asset quality was stable and controllable. The non-performing asset ratio in 2021 was 1.06%, a decrease of 4 basis points from 1.10% in 2020.
Rapidly Growing Industrial Operations Segment Enables New Pathways for Future Development
For industrial operation segment, in line with the national and regional coordinated development and the long-term goal of building a healthy China, Horizon Construction Development and Horizon Health have developed steadily. The revenue contribution of both business continues to rise. Both have become national leaders and achieved better social influence in terms of their scales. With the successful implantation of the Group's industrial operation strategy, revenues from the industrial operation segment maintained to grow exponentially. The industrial operation segment including Horizon Construction Development and Horizon Health achieved a total revenue (before taxes and surcharges) of RMB 11.43 billion, a year-on-year increase of 29.78% from the same period last year.
Equipment Operation:
Horizon Construction and Development is one of the largest equipment operation service providers in China, with diversified equipment and strong service capabilities. As a comprehensive equipment operation service provider in China, Horizon Construction Development was awarded the fourth place in the Top 50 Global Aerial Work Platform Leasing Companies in 2021 and the 24th in IRN World's Top 100 Rental Companies in 2021. In 2021, Horizon Construction Development have participated in on-site support projects such as the Beijing Winter Olympics venues, Hangzhou Xiaoshan International Airport, Beijing Daxing International Airport, China-Laos Railway, Beijing-Zhangjiakou High-speed Railway, Jingli Expressway and other projects, the centennial celebration of the founding of the Communist Party, the West Safety Games, the Shanghai International Import Expo.
At the same time, Horizon Construction and Development also actively participating in flood control and emergency rescue and epidemic prevention and control in many places. The efficient and professional service ability has been fully recognized by the market, and the brand awareness has been widely improved.
Horizon Construction and Development has scaled up its operations and strengthened its competitive advantages. As of the end of 2021, the number of service outlets reached 299, covering 182 cities. Its three major businesses of aerial work platform, new support system and new formwork system have all been leading in the market.
As of December 31, 2021, the total revenue of Horizon Construction and Development was RMB6.14 billion, representing a year-on-year increase of 67.63%. Net profit was RMB 709.62 million, a year-on-year increase of 43.83%.
Hospital Operation:
Horizon Healthcare is a large-scale social capital-run hospital group in China, dedicated to providing high-quality medical care accessible to everyone and building a century-old health brand. It consistently implements the management and operation model of "one system, one network, one hospital", fully takes advantages of the scale effects, builds a standardized operational network, and delivers a high-level medical rehabilitation and elder care resources to the vast number of people across the country.
As of the end of 2021, the number of controlled hospitals was 29 hospitals and the number of beds available was about 11,000. Horizon Healthcare forms a nationwide hospital operation network covering East China, South China, North China, Southwest China, Northeast China, and other regions. In the second half of 2021, new hospitals have been opened such as Siping Cancer Hospital, Nayong Xinli Hospital and Deyang No. 5 Hospital Zhongjiang Branch.
In line with the expansion of the hospital scale and the opening of new hospitals, the Group has also actively been hiring and retaining the talents of medical scientists. With the full operation of the new hospitals, the Group expects the gross profit will further improve in the future. During the period under review, the hospital operation business achieved revenue of approximately RMB4.00 billion, representing an increase of 16.13% over the same period of the previous year. Net profit reached 143.47 million yuan, a year-on-year increase of 24.22%.
Diversified Financial Channels and Cost of Capital Show Competitive Advantage
As of December, 2021, the total sum of the Group's interest-bearing bank and other borrowings amounted to RMB 230.20 billion, representing an increase of 12.17%, which was mainly due to the increase in interest income caused by supporting the Group's business expansion.
During the period, in the face of the complicated financial environment at home and overseas, the Group adhered to the established strategy of "finance + industry" and made good progress in both indirect financing and direct financing. With an improved liability structure, the Group's financing costs have been maintained a clear advantage as compared to the peers.
In the direct financing market, the Group further enriched the bond portfolios, optimized product structure, introduced new innovative products such as renewable corporate bonds, short-term corporate bonds, asset-backed commercial papers, and reduced overall costs. The Group issued 3.09 billion green asset backed securities (ABS) in April 2021. The basic assets include 42 green projects such as photovoltaic power generation, solar power generation, urban landscaping, sewage treatment, etc. The Group consistently has practiced the concept of green development and motivated the sustainable development of the real economy. In November 2021, it successfully issued the first 150 million renewable development bond in the domestic market.
In the indirect financing market, the Group has strengthened the cooperation partnership with key banks based on existing financing channels in accordance with the company's strategic development needs. In June 2021, the Group successfully signed a USD 450 million overseas green club loan agreement with eight banks including Sumitomo Mitsui, Standard Chartered Bank and OCBC Bank, etc. for the field of renewable energy, pollution treatment, high-efficiency energy, etc.
In addition, the Group also maintained its advantages in cost control. In 2021, the Group's average cost ratio was 4.41%, a decrease of 22 basis points compared with the cost in 2020.
Mr. KONG Fanxing, Vice Chairman of the Board and CEO said: "Looking back on 2021, under the guidance of the "Finance + Industry" strategic framework, the Group successfully completed various business objectives. As China's internal and external environments have undergone profound changes, China's economy will enter a new stage of development in the future. The Group will continue to adhere to the established strategy, closely leverage the Chinese economy, consistently serve the real economy, continuously innovate service methods, enrich service methods, and improve service capabilities. For financial and advisory segment, we will continue to upgrade the traditional financial services business based on deep analysis of the various industries and customers. By taking advantage of the company's existing resource, we will expand new service methods and improve the overall comprehensive service capabilities in respect of the new businesses. In terms of industrial operations, Horizon Construction and Development will reinforce its leading position in the market and enhance management capabilities and operational efficiency. Under the operational model of "One System, One Network and One Hospital", Horizon Healthcare will strengthen its management, improve operational efficiency, and achieve long-term sustainable development. We believe the Group will create greater value for its shareholders, customers, partners, employees, government and other social parties."
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comFar East Horizon Limited ("Far East Horizon" or the "Group"; stock code: 03360.HK), one of China's leading innovative financial companies focusing on the Chinese fundamental industries and leveraging the business model of integrating finance and industry to serve enterprises of greatest vitality with the support of the fast-growing and enormous economy in China
LBank Exchange Weekly Listing Report — March 14, 2022
SHARKFI FINANCE – IN THE CRYPTO WORLD, BE A SHARK
TOMB Finance - The first algorithmic stablecoin in the Fantom ecosystem, pegged to the price of 1 FTM Token via seigniorage.
Some of the strengths of the Tomb project that almost everyone is probably already aware of, such as: The TOMB token used in the rapidly growing Fantom ecosystem - so the users , the community, the audiences, the developer.... are very strong especially for an extremely large user base. In fact, the pieces in Fantom's DeFi are also quite complete, the pieces have the effect of creating value and influencing each other and always bringing sustainable value to each other. The actual result can be seen that TOMB Token price spiked to over $2 as Fantom kept hitting ATH levels (nearly x10), while TSHARE price surged to a staggering $4,985.80 and shows no sign of stopping.
Following the successes of Tomb Finance, SHARKFI FINANCE was born as a more complete version, giving you more investment opportunities in the future. The project hopes to bring a more quality user community with the improvements and further developments of SHARKFI FINANCE.
Similar to Tomb, SHARKFI FINANCE will be built and developed in the Fantom ecosystem, pegged to the price of 1 FTM Token through the seigniorage* mechanism.
* Seigniorage Model: Algorithmic Stablecoins using the Seigniorage Model have more than 1 token, usually 2 or 3 tokens. The first token is pegged at a specific price (usually $1), the remaining tokens will have different strategies to increase or decrease the supply as the price of the first token increases or down from the fixed price (usually $1).
The stablecoin algorithm can be understood as a stablecoin with a simple elastic supply and demand mechanism that equalizes the price at a specific level (usually $1), but in this case the SAFI Token is pegged to 1 FTM coin. The supply adjustment mechanism of SAFI Token will increase or decrease its price in accordance with the price of FTM Token.
SHARKFI FINANCE also runs on Fantom with 3 tokens: SAFI - FSHARE - FBOND but the fee is much lower than other projects.
$SAFI : the algorithmic token of SHARKFI FINANCE pegged to FTM through seigniorage.
* Use as the medium of exchange and an alternative to FTM.
$FSHARE : Token that measures the value of the SHARKFI Protocol
* Stake to receive $SAFI in Masonry.
* Participate in governance.
$FBOND : Token that helps incentivize changes in SHARKFI supply
* Earn from arbitrary opportunities.
* Maintain the price of $SAFI
You can earn a lot with just a tip :
If $SAFI is UNDER the peg
1 Buy $SAFI and exchange it for FBOND. If you are LP'ing, you can break the LP to exchange $SAFI for $FBOND, and use the remaining $FTM to buy $SAFI to also exchange for $FBOND. Now you have a big fat bag of $FBOND, and you've also helped bring $SAFI back above peg so that the Masonry can resume printing.
2️ Sell $FBOND for a redemption bonus once $SAFI is back to normal or above the peg (above 1.1 TWAP).
We appreciate early birds of the SHARKFI FINANCE . It also means that those who come first will have a better chance of making much more profit as we can buy SAFI at a lower price than ever before.
Here, we provide some background information about :
KEY Metrics SAFI
• Token name : SAFI
• Ticker : SAFI
• Blockchain : Fantom
• Token type : Utility
KEY Metrics FSHARE
• Token name : FSHARE
• Ticker : FSHARE
• Blockchain : Fantom
• Token type : Utility, Governance
KEY Metrics FBOND
• Token name : FBOND
• Ticker : FBOND
SHARKFI Finance grows in tandem with Fantom's development. Especially TVL of SHARKFI FINANCE will have a strong leap. Users will receive huge profits up to hundreds day by day. The objective of the project is pretty obvious: To support the Fantom token - FTM. It is evident that the SHARFI FINANCE token really helps the FTM token in general and the Fantom ecosystem in particular. More use cases and applications from the project can be expected to come online really soon, which can have a beneficial impact on Fantom.
Launching Date : 14 March 2022
Website : https://sharkfi.finance
Telegram Channel: https://t.me/SharkFi_Official_Channel
Telegram Group: https://t.me/SharkFi_Official_Group
Twitter: https://twitter.com/SharkFi_Finance
Email - Contact at sharkfi.financeMetria Network: Creating a Unique Unified Blockchain Infrastructure to Support Next-Gen dApps
Metria Network, the much-awaited solution for the entire crypto industry will be within reach soon. The chain agnostic decentralized infrastructure is designed to meet the needs of new-age DeFi and NFT applications by overcoming the issues of scalability, interoperability, and fragmentation of liquidity.
Currently under development, the Metria multichain platform is a Polygon-based ecosystem that combines the necessary features and enhancements required to enable seamless transfer of digital assets and liquidity across protocols. While a Polygon native platform, Metria also supports Ethereum and Binance Smart Chain at the moment, with plans for inclusion of more protocols in the future.
A Peek into the Metria Ecosystem
The Metria ecosystem provides all the necessary infrastructure and tools for the development and deployment of a diverse range of multichain capable DeFi and NFT applications. The first few products to be launched as part of the ecosystem are the project's flagship decentralized exchange platform – Metria DEX, NFT tools and Unified NFT Marketplace and Universal Staking and Farming platform.
Metria DEX
The native DEX protocol of the Metria ecosystem, Metria DEX is a completely decentralized, user-friendly multichain exchange platform that incorporates a familiar interface and CEX like features. The exchange protocol acts as a single window for users to trade any crypto asset, available on any of the supported blockchain protocols. Apart from enabling cross-chain trading of existing crypto assets, the platform also supports trading of synthetic tokens linked to real-world assets.
The Metria DEX dashboard acts as a unified interface for cross-chain trades, swaps, staking, yield farming and other DeFi activities. Apart from its own staking and farming protocols, Metria DEX also acts as an aggregator by listing staking pools and prevalent APYs in real-time. Users can directly stake their assets on any of the listed pools from within the dashboard.
Unified NFT Marketplace
Metria is laying the groundwork for a robust, universal NFT ecosystem with its Unified NFT Marketplace. The first of its kind decentralized multichain NFT marketplace allows users to mint, trade and auction NFTs within Metria as well as other blockchain ecosystems. As the name suggests, the Unified NFT Marketplace acts as a single window for users to discover NFTs across different marketplace on various protocols and purchase them directly using Metria's native utility token.
NFT Creators can make use of the NFT creation tools and other NFT related services to mint NFTs, assess their value and list on the Unified NFT Marketplace. Once listed, the NFTs will be indexed across marketplaces on all supported protocols amplifying discoverability in the process.
Metria Blockchain
Undergoing development in parallel to other Metria platform features, the Metria Blockchain is a Polysharding-based EVM compatible PoS blockchain protocol designed for chain agnostic operations. The protocol is being developed as a universal protocol that can cater to the needs of new age DeFi and NFT projects by providing a low-cost, highly scalable, and completely decentralized infrastructure solution. The cross-chain capability and EVM compatibility makes it easy for both new and existing projects to adopt Metria and gain access to a much wider community and enhanced liquidity from across different protocols. A key differentiator between Metria and other networks is the ability of Metria to enable seamless transfer of assets across protocols with the help of specialized crypto bridge infrastructure. By erasing the boundaries between protocols, Metria enables free flow of liquidity to maintain a healthy balance of demand and supply for projects within the ecosystem.
The $METR Token
Powering the entire Metria cross-chain ecosystem, now and in the future is $METR. The ecosystem's utility and governance token, $METR is a multichain token that will be initially available on Polygon, Ethereum and Binance Smart Chain. Its presence will expand to other protocols as and when Metria extends support for those chains.
$METR is the preferred mode of value exchange within the Metria ecosystem. Using the token, users can gain access to various products and services, enjoy discounted trading fees on Metria DEX and NFT Marketplace, and earn through staking, liquidity provisioning and yield farming activities within the ecosystem.
The upcoming $METR whitelisting and public sale will be followed by listing on popular AMM DEXs – Uniswap, QuickSwap and PancakeSwap on Ethereum, Polygon and Binance Smart Chain respectively will enable the community to gain access to the token.
About Metria
Metria is an all-inclusive, fully decentralized financial ecosystem that erases all boundaries between Blockchains and Cryptocurrencies. A unified platform, the infrastructure is designed to provide every individual, access to digital assets with absolute ease.
Learn more about Metria at: https://metrianetwork.io/
Read Metria's Tweets at: https://twitter.com/metria_network
Follow Metria on Instagram at: https://instagram.com/metrianetwork
Join the Metria Community at: https://t.me/MetriaNetwork
Follow Metria on LinkedIn: https://www.linkedin.com/company/metria-network/
Join discussions on Discord at: https://discord.com/invite/7VnbN8uM
Metria on Reddit: https://www.reddit.com/r/MetriaNetwork
Media Contact:
Metria Network[email protected]
Rocketpad Begins Process For Listing $ROCKET On BitMart Exchange
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