KN Group and AlloyX Form Strategic Partnership, Launching World's First On-Chain Tokenized Consumer Loan Assets
As a promoter of inclusive finance with business spanning emerging markets including Thailand, the Philippines, Indonesia, Pakistan, and Mexico, KN Group will conduct a shelf offering of USD 100 million in tokenized consumer finance assets (RWA), with an initial issuance size of USD 20 million. AlloyX, a renowned Hong Kong Web3 fintech firm, specializes in bridging traditional finance with blockchain-based services, providing secure and efficient fiat and stablecoin payment solutions alongside asset tokenization services. This powerful alliance will significantly enhance asset liquidity, stability, and capital efficiency, opening new channels for global capital market asset allocation.
Lucas Kong, General Manager of KN Group Hong Kong and Global Head of Treasury at KN Group, stated: 'This global debut is a major milestone following KN Group's decade of deep cultivation in AI fintech. It successfully bridges traditional financial services with the global capital markets through digital pathways. This initiative explores a replicable path for onboarding traditional consumer financial assets onto the blockchain, granting investors greater transparency, flexibility, and investment efficiency. Through financial asset tokenization, we aim to better serve global investors. Moving forward, we aspire to achieve further breakthroughs in setting new industry standards, unlocking fresh asset value, and connecting global emerging ecosystems, continuing our strides in innovative finance.'
Under this strategic partnership, AlloyX provides KN Group with blockchain technology solutions and support. Jessie Chen, Head of RWA Issuance at AlloyX, commented: 'We are delighted to partner with KN Group to jointly advance the global tokenization of cash loans, accelerating the integration and development of traditional financial systems with next-generation Web3 technology applications. This ensures high-quality financial assets circulate on-chain in a compliant and transparent manner. AlloyX will continue collaborating with industry partners to support institutions in their standardized, modularized, and globalized blockchain-based business expansion.'
As a key enterprise introduced by the Hong Kong Office for Attracting Strategic Enterprises (OASES), KN Group will leverage this innovation as a starting point. It will continue to harness its strengths in AI-powered risk control technology, optimize asset management, expand into emerging markets, and lead the global digital development of inclusive finance.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Trading ideas: RHB, Inari, Bintulu, Cypark, KNM, Itmax, Tanco, TSA, Axis REIT, HCK, Skygate, Pestec, Westports, F&N
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. RHB Bank Bhd has inked long-term bancassurance and bancatakaful partnerships with Tokio Marine Life Insurance Malaysia Bhd and Syarikat Takaful Malaysia Keluarga Bhd , marking one of the largest such agreements in the Malaysian financial services sector. Inari Amertron Bhd and China's Sanan Optoelectronics are jointly acquiring Lumileds Holding BV for USD239mn (RM1.03bn), expanding into the global LED market. Bintulu Port Holdings has received notices of assessment from the Inland Revenue Board totalling RM44.2mn for the years of assessment 2020 to 2023. Cypark Resources Bhd 's 51% indirectly owned subsidiary, Reviva BACRE (Ulu Remis) Sdn Bhd, has received approval from the Sustainable Energy Development Authority Malaysia to develop a 1.5MW biogas facility in Layang-Layang, Johor. Swiss-based SymbEx GmbH and Germany's Terragarda GmbH have offered EUR19.5mn (RM101mn) to acquire KNM Group Bhd 's unit FBM Hudson Italiana FBMHI and its UAE unit. ITMax System Bhd 's 70%-owned unit, Selmax, has secured a 10-year contract (with a 5-year extension option) to manage parking in Subang Jaya under the Selangor Intelligent Parking system. Tanco Holdings, via its unit Tanco Land, signed a supplemental agreement with Menteri Besar Incorporation Negeri Sembilan to reinforce their joint venture for developing the 574.7-hectare Port Dickson Free Zone project. TSA Group Bhd has entered the quarrying sector after being appointed to operate and distribute granite products in Manjung, Perak. Axis Real Estate Investment Trust has proposed to buy a warehouse site in Telok Gong, Port Klang from TS Worldwide Warehousing Sdn Bhd for RM80mn cash. HCK Capital Group Bhd 's indirect wholly owned subsidiary Reside Capital Sdn Bhd has proposed to buy two plots of land from Bandar Setia Alam Sdn Bhd for RM38.6mn cash. SkyGate Solutions Bhd (formerly Ewein Bhd ) is forming a joint venture with Singapore-based New Jin Hai to launch a high-precision manufacturing business in George Town, Penang. Pestec International Bhd's external auditor has expressed its unqualified audit opinion with a material uncertainty related to the group's ability to continue as a going concern. Westports Holdings Bhd expects single-digit container volume growth this year, despite a 13.7% YoY rise in 2QFY25 net profit to RM231.6mn, driven by companies rushing to ship goods ahead of the US tariffs. Fraser & Neave Holdings Bhd saw its 3QFY25 net profit fall by 30% to RM84.8mn from RM121.6mn a year ago, as sales slowed and its dairy farm continued to incur start-up losses.
The Star
14 hours ago
- The Star
China's customisable robot market may be about to take off
A store near a bustling shopping centre in the southern Chinese city of Shenzhen feels more like a small robotics fair, with all kinds of robots – from humanoid assistants to food delivery bots and massage machines – quietly drawing curious eyes. Amid the excited chatter of children accompanying their parents, company owners, investors and tech enthusiasts busily exchange contact details and discuss collaboration. Some hope to place their own robots in the newly opened 60 square metre (646 sq ft) store; others are looking to make a purchase. China's robotics industry has expanded rapidly in recent years and is now eyeing vast consumer and service markets – a familiar playbook for the country's manufacturers. The Future Era store, which opened in Shenzhen's Longgang district on Monday, bills itself as the world's first '6S' robot store – offering leasing and customisation services in addition to the traditional '4S' retail staples of a showroom, sales, spare parts and customer service. Customers can browse the many models on display and then choose to buy, rent or even build their own by selecting components that suit their needs. The store showcases robots from companies such as Hangzhou-based Unitree Robotics, and Shenzhen's Engine AI and Leju Robot, with daily rental prices ranging from around 5,000 yuan to 20,000 yuan (US$695 to US$2,781). Instead of paying robot makers hefty agent fees, it adopts a profit-sharing model, splitting revenues 50-50 with the manufacturers, deputy manager Zhang Shuai said. Customers can receive the robots they order in less than 10 days, he said, even when modifications are required to meet specific needs. 'This is currently one of the most efficient ways to connect robot makers with customers,' Zhang said. 'People can come in, see and interact with the products in person – or just stumble in out of curiosity and discover the latest models on display for potential collaboration.' Amid intensifying tech rivalry with the United States, China's robotics industry has emerged as a key pillar of Beijing's broader strategy to seize an early edge in emerging technologies and position itself at the forefront of the next global wave of innovation. Leveraging its manufacturing scale, rapid iteration cycles and well-developed supply chains, China's robotics industry is rapidly scaling up, poised to tap into a vast domestic market and accelerate real-world adoption. China was home to more than 741,700 robotics-related companies last year, Shenzhen Daily reported, with many of the sector's leading players moving on to mass production. Unitree shipped over 20,000 robot dogs last year, securing nearly 70 per cent of the global consumer-grade legged robot market, according to the Gaogong Industry Research Institute, a market research firm based in Shenzhen. Zhang said Future Era had received orders worth more than 200,000 yuan in its first week of operation. With the robotics industry booming, every part of the value chain holds potential While Shenzhen, in Guangdong province, is a renowned innovation hub, similar stores are in the pipeline across the country – some backed by private investors eyeing the sector's potential, others supported by local governments keen to promote emerging industries. 'It's a real business opportunity,' said Duan Lixiao, who travelled from Hainan province to visit the Future Era store. She has already secured a location in a shopping centre in Haikou, Hainan's provincial capital, hoping to bring the concept back home. 'With the robotics industry booming, every part of the value chain holds potential,' Duan said. Lin Hong, a marketing executive at a robotics company in Guangzhou, Guangdong's provincial capital, said many local governments across the country were planning to assist in the setting up of robotics stores. He said 'more than 10 local governments' had approached the company about placing its robots in stores they planned to launch, citing interest from provinces such as Sichuan, Shanxi and Hebei. Among the agreements signed by Lin's company is one with a store in Beijing that is expected to open this month. Zhang said Future Era received strong support from the district government, with officials helping it connect with robot manufacturers and facilitating collaboration. The store had signed agreements with more than 50 robot makers and component suppliers, he said. 'We're planning to open more than 50 stores like this across the country,' Zhang said. 'People from various provinces have already approached us, expressing interest in becoming franchise partners.' - SOUTH CHINA MORNING POST
Malaysian Reserve
a day ago
- Malaysian Reserve
Fujifilm raises camera and lens prices in the US amid tariffs
FUJIFILM Holdings Corp. raised US prices for the majority of its digital cameras and lenses on Friday, in some cases by hundreds of dollars, as President Donald Trump's tariffs continue to reverberate across the consumer tech industry. Many of the company's camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now $200 more expensive than they were on Thursday evening. For instance, Fujifilm's premier consumer camera, the X-T5, sold for $1,699 earlier this week but now costs $1,899, a 12% bump. Fujifilm did not respond to an emailed request for comment. The company is headquartered in Japan, which is subject to a baseline 15% tariff under a deal that the Trump administration struck with the country last month. Fujifilm subsequently relocated manufacturing for a few camera models from China to Japan; during that time, the prices remained stable. Other consumer hardware makers have also raised prices in recent months, including Kyoto-based Nintendo Co., which earlier announced a US price increase for the original Switch handheld games console, citing 'market conditions.' Fujifilm is the fourth-largest camera maker behind Canon Inc., Sony Group Corp. and Nikon Corp., according to market research firm Techno Systems Research. But the brand's products often stir an outsized buzz on social media among tech enthusiasts. Its X100 series went viral on TikTok during the Covid pandemic and has consistently been on backorder at most retailers since then. The latest model in that lineup, the X100VI, has risen to $1,799 with the latest price changes — up from $1,599. As for the other major camera manufacturers, Canon, Sony and Nikon already raised prices for a number of products earlier this year. Smaller players like Sigma have also given in after months of global tariff anxiety; that brand increased the cost of its lenses by around 10% in June, the photography outlet PetaPixel reported at the time, but the company told retail partners it's not planning another hike despite the new 15% rate levied on Japan. Fujifilm's most recently announced mirrorless camera, the X-E5 unveiled in June, has not undergone any price adjustments. That product is scheduled to ship later in August. The X Half, a compact, lightweight model the company introduced this year to attract more Gen Z customers, has also maintained its $850 price for the time being. –BLOOMBERG
