Chinese Blockchain Fund Plans To Create Yen-Backed Stablecoin

News | September 19, 2018 By:

Hong Kong-based Grandshores Technology Group is seeking to raise HK$100 million ($12.7M USD) via a digital token fund to create a Japanese yen-pegged stablecoin.

Grandshores Technology Group, formerly SHIS Limited, is an investment holding company principally engaged in contracting business. The company shifted its focus to blockchain investment following its acquisition in May of a company run by Yongjie Yao,