HK Stock Market Move | CR Holdings (01911) rose by more than 8% again. The company plans to invest $100 million to enter the Web 3.0 and cryptocurrency asset field.

CR HOLDINGS (01911) rose by more than 8%, as of the time of writing, it increased by 8.26%, reaching HK$4.85, with a turnover of HK$208.86 million. On the news front, CR HOLDINGS announced that the Board of Directors has decided to enter the Web3.0 and cryptocurrency asset fields while consolidating the existing business of Huaxing. They have approved a budget of $100 million for the next two years to develop the group's Web3.0 business and invest in cryptocurrency assets. The group believes that Web3.0 and cryptocurrency assets have enormous potential for future development, in line with the global trends in finance and business. Building on the success of the group's investment in Circle Internet Group and providing listing and financing services for numerous leading cryptocurrency enterprises, the group will increase its investment and development efforts in stablecoins, RWA (real world assets), and the entire ecosystem around cryptocurrency. They will also actively expand their applications for related business licenses and upgrades.