Summer Capital Limited ("Summer Capital"), a leading investment management and advisory firm with a presence in Hong Kong and Southeast Asia, today announced its intention to host nodes on Zetrix, a public blockchain platform that operates the international supernode of China's national blockchain, Xinghuo BIF.
This investment comes at a time of significant development for the digital assets and blockchain industry in Hong Kong. In June 2023, the Hong Kong Securities and Futures Commission (SFC) introduced a new regulatory framework for virtual asset trading platforms which is expected to further boost the adoption of cryptocurrencies in the city. The government of Hong Kong has also established the Task Force on Promoting Web3 Development, aiming to foster the adoption of blockchain technology in finance, trade, business operations and other consumer applications.
Zetrix is well-positioned to capitalise on this growth, given its unique focus on enabling global trade through its connection to Xinghuo BIF. Developed by the Chinese Academy of Information & Communication Technology ("CAICT"), a state owned research institute under the Ministry of Industry and Information Technology, Xinghuo BIF is China's national blockchain infrastructure and facility that provides a secure and reliable platform for businesses and governments to develop and deploy blockchain applications.
By connecting to Xinghuo BIF, Zetrix provides users with access to China's immense digital economy. This makes Zetrix an ideal platform for businesses that are looking to expand their operations into China or to trade with Chinese partners.
Source: Yahoo Finance