HK Movers | IVD Medical Surges 35% as It Initiates Application for US Stablecoin License

IVD Medical has initiated an application for a US stablecoin license, prompting a 35% surge in its stock price.

Recently, IVD Medical made a high-profile announcement of its foray into Web3, stating that it will establish a wholly-owned subsidiary in the US, IVD GROUP INC., which will advance the core operations of the IVDNewCo Exchange strategy in the US and initiate a US stablecoin license application.

IVD Medical stated that the US subsidiary will simultaneously implement the IVDNewCo Exchange ecosystem within the US, including the creation of a tokenization platform based on RWA (real-world assets) of innovative medical drugs known as NewCo assets; establishing compliant financial infrastructure to support the issuance, trading, and clearing of the IVDD stablecoin; and promoting a "coin-share linkage" mechanism aligned with dual primary listing plans on NASDAQ to deepen capital market synergies.

IVD Medical claimed that leveraging its commercial network covering 1,674 tertiary hospitals in China and its global asset acquisition capability for NewCo, the IVDNewCo Exchange ecosystem will become the world's first compliant trading platform focused on medical innovation drug RWA, attracting bi-directional inflows of traditional medical capital and native crypto funds.

Earlier, IVD Medical announced that the board had resolved to proceed with a dual primary listing on the NASDAQ Stock Market through a proposed initial public offering of American Depositary Shares.