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| Important Step for CEL to Enter Blockchain Sector |
HONG KONG, June 23, 2016 - (ACN Newswire) - China Everbright Limited ("CEL"; 165.HK) is pleased to announce that the company and IDG Capital Partners ("IDG") has agreed to jointly invest in Circle Internet Financial Ltd ("Circle") to become key strategic shareholders of the leading blockchain and digital currency services provider.
Founded in 2013, Circle has a unique competitive edge in the consumer digital finance industry. Circle has obtained government licenses for operations in the US and the UK, including the first BitLicense from the New York Department of Financial Supervision (NYDFS), the first E-Money Issuer License from the Financial Services Authority in the UK as well as remittance licenses from nearly 50 states in the US. In view of the strong potential for blockchain-based mobile payment and cross-border transaction systems being the medium of financial payment, it has been among the most sought-after targets for investors.
CEL, as a leading cross-border asset management enterprise, always stays on top of the latest Fintech innovation. This joint investment with IDG marks an important step for CEL's entry into the blockchain and digital currency financial services sphere. As Circle's strategic shareholder, CEL will play an important role in Circle's payment and consumer finance business expansion in China and the rest of the world.
About China Everbright Limited
China Everbright Limited ("CEL", stock code: 165.HK) is the largest overseas financial platform of China Everbright Group Ltd. ("Everbright Group"). It is the second largest shareholder of Everbright Securities (stock code: 601788.SH) and a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK) the controlling shareholder of the Hong Kong-listed China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK) and the second largest shareholder of the Singapore-listed Ying Li International Real Estate Limited (stock code: 5DM. SGX). As at end-2015, CEL managed 31 funds with AUM of more than HK$49 billion. Everbright Group, the parent company of CEL, is a state-owned financial conglomerate with AUM of approximately RMB3,000 billion as at end-2015. For more information about CEL, please visit www.everbright165.com.
About Circle Internet Financial Ltd.
Circle Internet Financial Ltd ("Circle") is an industry leader in the blockchain and digital currency financial service arena. Founded with the vision that money should work the way that the Internet works - instant, global, open, free and fun, Circle is more than a payment app and is on a mission to change the global economy. Unlike existing money transaction systems that are close and proprietary, Circle adopts open internet protocols, connecting dollars, pound sterling, and euro to blockchain technology, machine learning risk system, and cutting edge AI algorithms and other innovative approaches to keep money sharing safe and easy. Circle has government licenses in hand for operations throughout the US and Europe, including the world's first granted BitLicense from the New York Department of Financial Supervision (NYDFS), the first eMoney Issuer license in the UK/EU by digital currency company, etc. Circle's social payment app allows customers in the US, UK and soon Europe and China, to send and receive payments instantly, with a customer experience that builds on the experiences it has with messaging and social media. For more information about Circle, please visit https://www.circle.com/.
About IDG Capital Partners
IDG Capital Partners ("IDG") is primarily focusing on investing in China related VC & PE projects. IDG's offices are located in Hong Kong, Beijing, Shanghai, Guangzhou, Shenzhen and Hangzhou. IDG primarily focuses on leading companies in TMT, consumer goods and services, healthcare, industrial technology, culture and tourism sectors. IDG invests in all stages of the company lifecycle from early stage to Pre-IPO. IDG's investments range from US$1M to US$100M. Since 1992, as one of the earliest foreign investment funds to enter the Chinese market, IDG has invested in over 400 diverse outstanding companies, such as Tencent, Baidu, Ctrip, SouFun, Xiaomi, CreditEase, Kingdee, Sohu, 91 Wireless, Hanting Inns & Hotels, Kanghui and Wu-Mart. IDG has successfully exited from over 100 investments through M&A or IPO in US, Hong Kong and China mainland. For more information about IDG, please visit http://www.idgvc.com/.
For enquiries, please contact:
Golin
Jackie Cheung
Tel: +852 2501 7901
Email: jcheung@golin.com
Max Lau
Tel: +852 2501 7905
Email: mlau@golin.com
Topic: Press release summary
Source: China Everbright Ltd
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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