{"id":111627,"date":"2018-12-28T19:48:30","date_gmt":"2018-12-28T16:48:30","guid":{"rendered":"http:\/\/ww-vb.mine.nu\/w108\/hong-kong-wine-company-to-buy-japanese-crypto-exchange\/"},"modified":"2018-12-28T19:48:30","modified_gmt":"2018-12-28T16:48:30","slug":"hong-kong-wine-company-to-buy-japanese-crypto-exchange","status":"publish","type":"post","link":"https:\/\/hameed.nwar.uk\/sa\/hong-kong-wine-company-to-buy-japanese-crypto-exchange\/","title":{"rendered":"Hong Kong wine company to buy Japanese crypto exchange"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>Investments into crypto opportunities are still coming thick and fast despite the grim market conditions this year. This is especially true in Asia, which houses some of the largest crypto and blockchain firms in the world.<\/p>\n<p>Madison Holdings Group, a Hong Kong stock exchange listed wine company, has made plans to buy a stake in a Japanese crypto-currency trading platform. BitOcean is one of the 16 fully licensed crypto exchanges that have gained formal approval from Japan\u2019s Financial Services Agency.<\/p>\n<div class=\"newsletter nlnew\">\n<div class=\"newsletter-content\">\n<p>Must-reads from across Asia &#8211; directly to your inbox<\/p>\n<\/p><\/div>\n<\/div>\n<p>Madison Lab, a subsidiary company, has filed to acquire 67.2% of the crypto exchange for about $15 million with an additional $15 million in various fees, according to the <a href=\"https:\/\/www.scmp.com\/business\/companies\/article\/2179398\/hong-kong-listed-wine-firm-madison-eyes-cryptocurrency-trading\">SCMP<\/a>. Wine and crypto is a strange combination, but Madison chairman Raymond Ting Pang-wan said it was part of their diversification strategy.<\/p>\n<p>\u201cOur wine business is stable and profitable, but then it is small. It is hard to make wine trading into a very big business,\u201d he said. \u201cThis is why we have to diversify into financial technology and the crypto-currency business \u2013 to achieve a better return for our shareholders.\u201d<\/p>\n<p>In a related deal, HDR Global Trading, which owns the Hong Kong-based BitMEX crypto exchange, is <a href=\"https:\/\/medium.com\/@eurocoinpay\/bitmex-and-one-of-the-wine-companies-listed-on-stock-exchange-in-hong-kong-are-planning-to-536a6a458850\">reportedly<\/a> considering buying a 51% stake in Madison Labs for about US$17 million. Neither deals had been finalized at the time of writing.<\/p>\n<p>The decision to buy BitOcean was influenced by Japan\u2019s pro-crypto stance and comprehensive regulatory framework. \u201cJapan represents about 20%\u00a0of Bitcoin trading worldwide. Japan and the US are the only two markets that have a licensing system for such trading platforms. We wanted to invest in a platform that was under proper regulation,\u201d Ting added.<\/p>\n<p><a href=\"http:\/\/www.atimes.com\/article\/hong-kongs-coin-master-has-cash-thrown-from-rooftops\/\">Hong Kong<\/a> has yet to introduce official licenses for crypto companies, but has said it would develop a \u2018sandbox\u2019 for firms to test out software for regulatory purposes.<\/p>\n<p>Diversification seems to have appeal to a growing number of companies in the region. The chairman of the Hong Kong Securities Association, Gary Cheung Wai-kwok, told the SCMP that this was not a big investment for Madison when compared to its market capitalization \u2013 which is about $535 million \u2013 and, as such, would not bring \u201ctoo big a risk.\u201d<\/p>\n<p>The move comes as crypto-currency markets are at the <a href=\"http:\/\/www.atimes.com\/article\/for-crypto-this-year-will-be-one-to-remember\/\">lowest levels <\/a>for more than a year. Market optimists <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2018-12-23\/-exciting-things-for-crypto-ecosystem-expected-in-2019-pwc-says-video\">say<\/a> this could be an incentive for investment as this \u201ccrypto winter\u201d will, next year, be replaced by a digital spring. Others are not so <a href=\"https:\/\/ftalphaville.ft.com\/2018\/12\/17\/1545049990000\/You-know-things-are-bad-when-Tether-is-in-the-crypto-top-5-\/\">confident<\/a>.\n<\/p>\n<p>continue reading<\/p>\n<\/p><\/div>\n<p><script>\n\t!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;\n\tn.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;\n\tt.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,\n\tdocument,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js');<\/p>\n<p>\tfbq('init', '189940718103664');\n\tfbq('track', \"PageView\");\n\t\tfbq('track', 'ViewContent');\n\t\t\t<\/script><script>\nwindow.fbAsyncInit = function() {\n    FB.init({\n      appId      : '1767425466844632',\n      xfbml      : true,\n      version    : 'v2.7'\n    });\n\t\tFB.Event.subscribe('comment.create', function (response) {\n\t\tjQuery.ajax({\n\t\t\ttype: \"POST\",\n\t\t\turl: \"\/wp-content\/themes\/rgb\/functions\/facebook.php\",\n\t\t\tdata: { p: \"295137\", c: response.commentID, a: \"add\" }\n\t\t});\n\t});\n\tFB.Event.subscribe('comment.remove', function (response) {\n\t\tjQuery.ajax({\n\t\t\ttype: \"POST\",\n\t\t\turl: \"\/wp-content\/themes\/rgb\/functions\/facebook.php\",\n\t\t\tdata: { p: \"295137\", c: response.commentID, a: \"rem\" }\n\t\t});\n\t});<\/p>\n<p>\t\/\/ call to function wen facebook comments is loaded\n\t\/\/ FB.Event.subscribe('xfbml.render', AsiaTimes.ATTheBreifSticky());\n\t};\n(function(d, s, id){\n     var js, fjs = d.getElementsByTagName(s)[0];\n     if (d.getElementById(id)) {return;}\n     js = d.createElement(s); js.id = id;\n     js.src = \"http:\/\/connect.facebook.net\/en_US\/sdk.js\";\n     fjs.parentNode.insertBefore(js, fjs);\n}(document, 'script', 'facebook-jssdk'));\n<\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"http:\/\/www.atimes.com\/article\/hong-kong-wine-company-to-buy-japanese-crypto-exchange\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Investments into crypto opportunities are still coming thick and fast despite the grim market conditions this year. This is especially true in Asia, which houses some of the largest crypto and blockchain firms in the world. Madison Holdings Group, a Hong Kong stock exchange listed wine company, has made plans to buy a stake &hellip;<\/p>\n","protected":false},"author":1,"featured_media":111629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-111627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tie-world"],"_links":{"self":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts\/111627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/comments?post=111627"}],"version-history":[{"count":0,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/posts\/111627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/media\/111629"}],"wp:attachment":[{"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/media?parent=111627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/categories?post=111627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hameed.nwar.uk\/sa\/wp-json\/wp\/v2\/tags?post=111627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}