Asia’s Crypto Landscape: Ethereum Investment and Market Dominance
Alibaba Co-Founder’s Firm Backs Ethereum-Based Innovation
A company co-founded by Alibaba’s Jack Ma has recently supported another Ethereum-centric venture. Yunfeng Financial Group, a Hong Kong-listed fintech firm, led a $22 million Series A funding round for Anthea Holding Limited.
Anthea, a Bermuda-based crypto insurance company, stated it would use the new capital to introduce its initial Ethereum-based life insurance product. The funding will also facilitate the company’s expansion into the broader Asian market.
This investment follows Yunfeng Financial’s acquisition of 10,000 ETH, valued at approximately $44 million, just over a month prior. This strategic reserve is intended for real-world asset tokenization and applications within decentralized finance (DeFi) insurance.
South Korean Market Sees Significant “Whale” Activity
In related news from the Asian crypto sphere, data indicates that a substantial portion of the South Korean crypto market is dominated by large holders. These “whales” reportedly account for 91% of the market activity in the region.
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