HONG KONG SAR - Media OutReach Newswire - 2 September 2024 - CashOn, Hong Kong's first digital currency lending platform, announced today the signing of a strategic cooperation memorandum with the Wuxi Huishan (Shenzhen) Innovation Center. The cooperation aims to jointly explore digital currency lending matching services based on CashOn's innovative fintech platform in the Greater Bay Area, striving to drive technological innovation and industrial growth in the digital economy.

Representative of Wuxi Huishan (Shenzhen) Innovation Center (Left) and representative of CashOn (Right)

Through this collaboration, CashOn will accelerate its international market expansion, further enhancing its competitive edge by providing practical financing solutions to customers. CashOn focused on fintech and Web3 applications, offering a platform that helps customers access cash liquidity by using digital currencies, finding and comparing quotes from multiple financial companies, and providing suitable lending solutions, enhancing the fluidity between digital currencies and fiat currencies.

Recently, CashOn was recommended by the GBA Youth Entrepreneurs Association to set up operations in the Wuxi Huishan (Shenzhen) Innovation Center. This opportunity will strengthen collaboration with the GBA Youth Entrepreneurs Association, deepen ties between Hong Kong and mainland enterprises, and create broader development opportunities for young entrepreneurs. Leveraging the rich resources and policy support of the Wuxi Huishan (Shenzhen) Innovation Center, CashOn will expand its business in the innovation and digital economy sectors.

Under the strategic cooperation memorandum, the Innovation Center will provide support in market expansion and resource integration, assisting CashOn in improving the layout of the international market. This collaboration will also effectively help CashOn seize potential opportunities arising from national development, quickly adapt to market changes, and establish deeper relationships with various enterprises.

Located in the core area of Shekou Prince Bay in Shenzhen, the Wuxi Huishan (Shenzhen) Innovation Center is a significant innovation incubation space under Wuxi Huishan Science and Technology Innovation Industry Group Co., Ltd, serves as a reverse accelerator connecting the technological and financial resources of Wuxi Huishan with the Greater Bay Area. Since June 2022, the center has signed agreements with 19 projects, totaling an investment of RMB 9 billion (HK$9.89 billion)^[1]. The center will assist enterprises in settling in Wuxi Huishan by opening up scenarios and connecting resources in the future.

Recruiting Professional Talent in the Greater Bay Area to Drive Technological Innovation

Marvis Wong, Co-founder and CEO of CashOn, said, "We are deeply grateful for the collaboration with the Wuxi Huishan (Shenzhen) Innovation Center and the strong support from the GBA Youth Entrepreneurs Association. This partnership offers us the chance to engage with more international business leaders, exchange insights on blockchain and fintech development, and apply innovative thinking to our business growth, capitalizing on new opportunities in digital finance."

Moreover, CashOn plans to recruit more Web3 and blockchain professionals in the Greater Bay Area to drive technological innovation and create job opportunities, injecting new vitality into the region's economic growth. CashOn will fully utilize its technological and market advantages to provide more efficient digital currency lending services, thereby promoting innovation and development in the fintech industry.

Expanding into the ASEAN Market with Innovative Web3 E-Payment Solutions

ASEAN countries' rapid economic development implies opportunities for more fintech solutions. Looking ahead, CashOn plans to expand into the ASEAN with innovative Web3 e-payment solutions, offering more financial service options to merchants and virtual asset holders. Marvis Wong stated, "CashOn will leverage its core strengths by introducing innovative lending solutions to meet the financing needs of local businesses and individuals, bringing advanced fintech technologies to the 'Belt and Road' countries, and supporting the collaborative development of the digital financial economy across regions."

^[1] The Wuxi Huishan (Shenzhen) Innovation Center has signed agreements with 19 projects worth RMB 9 billion (HK$9.89 billion) since June 2022: https://www.wuxi.gov.cn/doc/2022/06/02/3681042.shtml

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