Addentax Group Corp. Advances Collaboration with KINGS UNITED
Strategic Partnership for Digital Evolution
Addentax Group Corp. (NASDAQ: ATXG) has embarked on an exciting new venture. The company has initiated discussions with KINGS UNITED HOLDING LIMITED to explore a strategic cooperation aimed at enhancing their web presence in the Web3.0 space and enabling Real-World Asset innovations. This collaboration is intended to integrate cutting-edge blockchain payment systems into ATXG's existing supply-chain operations.
Understanding the Collaboration
The focus of these discussions revolves around assessing the potential benefits of incorporating blockchain technologies into ATXG’s payment architecture. A structured proposal is under evaluation, which may include the establishment of a licensed trust vehicle and the transfer of up to 100 million native tokens from KINGS. This exploration comes with a notional valuation around USD 10 million and may involve considerations of common share issuance to the trust entity.
About KINGS UNITED
KINGS UNITED is a company incorporated in the British Virgin Islands and is recognized for its extensive work in fintech. They own ALL IN Fintech Limited, a New York-registered business with multiple licenses, aiming to facilitate transactions between the traditional and blockchain-driven financial landscapes. Their expertise lies in creating prepaid card systems and developing distributed credit models that align both Web2.0 and Web3.0 payment methods.
Enhancing Digital Infrastructure
Addentax's management team views this potential collaboration as an opportunity to improve the company’s infrastructure for tokenized transactions and real-world asset integration. This partnership is expected to enhance transparency within international payment processes, providing avenues for better digital monetization in line with governance and compliance frameworks.
Leadership Insight
Mr. Hong Zhida, the Chief Executive Officer of Addentax Group, expressed excitement about the possible advancements this collaboration might yield. He noted, "We aim to explore how blockchain infrastructure can significantly bolster our supply-chain processes and enhance our international payment capabilities." Such sentiments reflect a commitment to keeping ATXG at the forefront of technological integration in business operations.
Looking Ahead
As Addentax Group continues to assess strategic alternatives, the focus remains on preserving shareholder value while navigating through operational and regulatory challenges. The company is dedicated to pursuing opportunities that align with its vision for growth and innovation priorities within the digital asset landscape.
About Addentax Group Corp.
Addentax Group Corp. is known for its multifaceted services in garment manufacturing, logistics, and property management. It plays a pivotal role in facilitating supply chain operations and looks to leverage its technological advancements to sustain competitive advantages. For further information regarding the company's services and initiatives, please visit their official site at Addentax Group.
Frequently Asked Questions
What is the nature of the collaboration between Addentax and KINGS UNITED?
The collaboration focuses on integrating blockchain payment systems and Real-World Asset enablement into Addentax's supply-chain operations.
What technologies are being explored in this partnership?
The partnership is examining the potential of blockchain payment infrastructure and tokenized settlement technologies.
Who is KINGS UNITED?
KINGS UNITED HOLDING LIMITED is a fintech group that develops blockchain solutions aimed at bridging traditional and cryptocurrency financial systems.
How will this partnership benefit Addentax Group?
The collaboration is expected to enhance payment transparency, expand digital monetization avenues, and strengthen supply-chain efficiency.
What steps is Addentax taking regarding shareholder value?
Addentax is continually evaluating strategic options to ensure the preservation of shareholder value and address regulatory considerations.
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