In a strategic move signaling its transformation into a next-generation financial institution, Huaxing Capital Holding Limited (Stock Code: 1911, “Huaxing Capital” or “the Company”) has announced key leadership appointments and a bold expansion into the Web3 and digital asset ecosystem. On June 26, the company released two major announcements: the appointment of two new independent non-executive directors and the approval of a $100 million budget over two years to drive growth in Web3.0 services and digital asset investments.
This dual initiative underscores Huaxing Capital’s commitment to innovation, positioning itself at the forefront of the convergence between traditional finance and blockchain-powered financial systems.
Strategic Leadership Appointments to Drive Web3 Vision
The board has appointed Frank Fu Kan as an independent non-executive director, with roles on the Audit, Remuneration, and Nomination Committees. Additionally, Ms. Jiali Chen has been named independent non-executive director, Chair of the Audit Committee, and member of the Nomination Committee.
Both appointees bring deep expertise in technology and digital innovation. Frank Fu Kan brings over 30 years of experience in tech business development, with a strong focus on blockchain, cryptocurrencies, and Web3.0 ecosystems. His leadership roles include co-founder and managing director at Distributed Capital, CEO of Huobi US, and managing director for global operations and international investments at Meitu. This wealth of experience aligns perfectly with Huaxing’s new strategic direction.
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Huaxing 2.0: A New Era of Innovation and Growth
Since its relisting on the Hong Kong Stock Exchange and the return of Chairman Yanqing Xu, Huaxing Capital has entered what it calls its “2.0 era” — a phase defined by resilience, reinvention, and forward-looking strategy. Despite macroeconomic challenges, the company reported strong performance in 2024, particularly in artificial intelligence (AI) and mergers & acquisitions (M&A), where deal volume and quality have consistently outpaced industry peers.
In asset management, Huaxing achieved notable success in early 2025, with three portfolio companies going public — including Circle Internet Group, widely recognized as the “first stablecoin IPO.” Circle opened at $69.32 on its debut day, surged to a high of $103.75 during trading, and later climbed to $298.99 by June 23 — more than eight times its initial offering price.
This investment was no isolated bet. Huaxing has long pursued a proactive and compliant strategy in blockchain and digital assets:
- 2019: Led Canaan Inc.’s Nasdaq IPO.
- 2021: Invested in Amber Group, now merged-listed in the U.S.
- 2022: Invested in Matrixport and supported Bitdeer’s SPAC listing on NASDAQ.
- 2024: Served as financial advisor to HashKey Group, guiding its fundraising and regulatory compliance efforts.
These milestones reflect a consistent pattern: Huaxing Capital is not just observing the digital asset revolution — it is actively shaping it.
Strategic Expansion into Stablecoins, RWA, and Web3 Infrastructure
The recent board decisions mark a pivotal step in Huaxing’s evolution. With formal approval of a $100 million investment fund over two years, the company will focus on:
- Stablecoins – Digital currencies pegged to real-world assets like the U.S. dollar.
- RWA (Real World Asset) Tokenization – Bringing physical assets like bonds, real estate, and commodities onto blockchains.
- Web3 Ecosystem Development – Building infrastructure across decentralized finance (DeFi), smart contracts, and digital identity.
This strategy positions Huaxing as a bridge between Web2 financial institutions and the emerging Web3 economy. By integrating blockchain technology into core financial services, the firm aims to unlock new liquidity channels, enhance transparency, and create scalable financial tools for global markets.
Why Now? Regulatory Tailwinds and Market Readiness
The timing of Huaxing’s move is strategic. In 2025, Hong Kong released its Digital Asset Development Policy Declaration 2.0, upgrading its regulatory framework and opening retail markets to tokenized government bonds and stablecoin issuers. This marks a shift from regulatory experimentation to full-scale implementation.
Other developments include:
- JD.com advancing its stablecoin project into Phase 2 of the Hong Kong Monetary Authority’s sandbox.
- Ant Group announcing accelerated investments in AI, blockchain, and stablecoin applications ahead of new legislation.
- Guotai Junan International receiving SFC approval to offer virtual asset trading services.
These moves signal growing institutional confidence in digital assets — especially under clear regulatory guardrails.
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Building the Future Financial Infrastructure
Huaxing Capital’s entry into digital assets isn’t just about returns — it’s about redefining finance for the digital age. By focusing on stablecoins and RWA tokenization, the firm addresses two critical needs:
- Financial Efficiency: Blockchain enables faster settlement, lower transaction costs, and 24/7 market access.
- Global Liquidity: Digital assets can be traded across borders without traditional intermediaries.
Moreover, by pursuing relevant licenses and regulatory upgrades, Huaxing ensures that innovation goes hand-in-hand with compliance — a crucial factor for long-term sustainability.
The company’s vision aligns with broader trends: central banks exploring CBDCs (Central Bank Digital Currencies), pension funds allocating to crypto assets, and multinational corporations using blockchain for supply chain finance.
Frequently Asked Questions (FAQ)
Q: What is Huaxing Capital’s new strategic focus?
A: Huaxing Capital is entering the Web3.0 and digital asset space with a $100 million investment plan focused on stablecoins, real-world asset (RWA) tokenization, and blockchain infrastructure development.
Q: Who are the newly appointed independent directors?
A: Frank Fu Kan and Ms. Jiali Chen have been appointed as independent non-executive directors. Frank brings extensive experience in blockchain and Web3 technologies, while Ms. Chen will chair the Audit Committee.
Q: Why is Huaxing investing in stablecoins and RWA?
A: Stablecoins offer price stability and global liquidity, while RWA tokenization unlocks value from physical assets through blockchain. Together, they represent high-growth areas within decentralized finance.
Q: Is Huaxing Capital launching its own cryptocurrency?
A: There is no public indication that Huaxing plans to issue its own cryptocurrency. The focus is on investing in existing ecosystems, supporting compliant projects, and building financial infrastructure.
Q: How does this align with Hong Kong’s digital asset policies?
A: Huaxing’s strategy closely follows Hong Kong’s progressive stance on virtual assets, including recent legislation supporting stablecoin issuance and retail market access — creating a favorable environment for institutional participation.
Q: What role does AI play in Huaxing’s Web3 strategy?
A: While AI remains central to its investment banking operations, Huaxing sees synergies between AI-driven analytics and blockchain-based data integrity — particularly in risk assessment, fraud detection, and automated financial services.
Huaxing Capital’s latest moves represent more than a business pivot — they reflect a fundamental belief in the transformative power of blockchain technology. As part of its “2.0 era,” the firm is leveraging its financial expertise, global network, and strategic foresight to become a catalyst in the next wave of financial innovation.
With strong leadership, regulatory alignment, and substantial capital commitment, Huaxing is poised to lead traditional finance into the Web3 world — not as a spectator, but as a builder.
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