Lion Group Holding Ltd. (“Lion” or “the Company”) (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, has partnered with Blockchain Grandshores Technology Group Limited (“Grandshores Technology”) (HKEX: 01647), Grandshore Technology Group has been hired by Lion Gorup and its soon to be acquired company Royal Lion Middle East based out of DMCC ( Dubai Multi Commodities Center) in the UAE, which holds a digital asset trading license and functions as a central counterparty in the crypto asset market, as a consultant to provide blockchain technology support, advice on operations, and consulting services in operating digital asset trading platforms.
With the cooperation, Lion is preparing to set up a blockchain related fund up to a maximum of US$800 million. The fund will invest in digital currencies including but not limited to Bitcoin (BTC), Ethereum (ETH) and its ecological industry chain, and invest in the stocks of listed companies in the blockchain field with growth potential, or the equity of private companies that will be listed in the near future. Additionally, Lion will also prepare the issuance of mainstream digital currency trust funds similar to GrayScale. Mr. Yao Yongjie, chief technical adviser of Lion and the Chairman of Grandshores Technology, will facilitate the cooperation between the two parties.
“We are pleased to announce the partnership with Grandshores Technology, which offers many resources and extensive investment management experience within the blockchain field,” Mr. Chunning Wilson Wang, Chief Executive Officer of Lion, commented. “Through this cooperation, we will leverage the advantages of our respective capital, platform and resources to achieve success and sustainable growth in the development of blockchain technology and industry.”