DJ EQS-News: LYL and Antpool Jointly Set Up a New Company to launch Cryptocurrency Derivatives Platform powered by technology innovation
EQS-News / 09/11/2021 / 08:24 EST/EDT
LYL and Antpool Jointly Set Up a New Company to launch Cryptocurrency Derivatives Platform powered by technology innovation
On 8th November, Dragon Victory International Limited (NASDAQ: LYL, "Dragon Victory") announced that its wholly-owned subsidiary, Meta Rich Limited ("Meta Rich"), set up Metalpha Limited ("Metalpha") with Antalpha Technologies Limited ("Antalpha"). According to the Company's announcement, Meta Rich will hold 51% stake and the remaining 49% will be held by Antalpha.
Antalpha is a wholly-owned subsidiary of Antpool Technologies Holding Company, the operator of one of the world's largest bitcoin mining pools.
Metalpha has been established to meet the needs of cryptocurrency investors who seek more sophisticated and risk-managed products as cryptocurrency industry has evolved rapidly. [1]The company's main customers are miners and institutions, who need more customized cryptocurrency derivative products, which can fulfill their investment criteria and different level of risk tolerance.
Cryptocurrency has evolved for more than ten years and become one of the most innovative, fast growing, and lucrative investment products; however, cryptocurrency has exhibited higher volatility and higher risk compared to traditional financial assets. With the gradual improvement and maturity of the cryptocurrency market, trading demand for cryptocurrency is no longer limited to simple spot trading but extends to various derivative to minimize volatility and to manage risks, Therefore, major cryptocurrency exchanges have gradually launch various derivatives, mainly leveraged trading, futures contracts and option contracts.
Dragon Victory International is able to aim precisely at new opportunities, leveraging experiences from traditional financial derivative market and innovations of cryptocurrency industry. Metalpha will form a team of talented and experienced professionals in finance and technology to build up a leading crypto derivative trading platform. The company will be able to grow exponentially and contribute to long-term development of the crypto market and wealth of investors.
Mr. Adrian, CEO of Metalpha, said that the company will fully leverage the team's multi-year experience in international financial market transactions and products. With the support from Dragon Victory and Antalpha, Metalpha will offer a world class trading platform to institutional investors and cryptocurrency miners who want to have exposure to cryptocurrency.
"We believe investor will find Metalpha is the place where innovation resonate with regulation and risk reward distributed perfectly across different needs." File: LYL and Antpool Jointly Set Up a New Company to launch Cryptocurrency Derivatives Platform powered by technology innovation
09/11/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com
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(END) Dow Jones Newswires
November 09, 2021 08:24 ET (13:24 GMT)
