Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
NEW YORK - Mercurity Fintech Holding Inc. (NASDAQ:MFH), whose stock has surged nearly 970% over the past year according to InvestingPro data, announced Wednesday that its wholly owned subsidiary Chaince Securities, LLC has entered into an advisory agreement with a U.S. mining company to provide tokenization consulting services for a gold mining project in Central America and Northwestern Argentina.
Under the agreement, Chaince Securities will provide blockchain tokenization advisory services including asset structuring, technology and compliance development, investor protection implementation, and market access for gold-backed tokens. The company, currently valued at $920 million, maintains a healthy liquidity position with a current ratio of 2.59, according to InvestingPro data.
The services will focus on designing frameworks to tokenize physical gold reserves and future production-linked assets, developing instruments designed to comply with securities regulations, implementing asset protection mechanisms, and connecting the tokens with institutional-grade real-world assets ecosystems.
Northwestern Argentina and Central America are described as geologically prospective gold mining regions that remain comparatively underexplored, according to the company’s press release statement.
"We believe that the tokenization of real-world assets such as gold will be a defining trend for the future of capital markets," said Mercurity Fintech CEO Shi Qiu in the announcement.
Mercurity Fintech Holding, a member of the Russell 2000 Index, describes itself as a blockchain-powered fintech group offering technology and financial services through its subsidiaries. Trading near its 52-week high of $14.14, the stock shows significant momentum but may be approaching overvalued territory. Discover more insights and 17 additional ProTips for MFH with an InvestingPro subscription.
Chaince Securities, LLC is a FINRA-registered broker-dealer founded in 1982 and headquartered in New York City, specializing in equity capital markets, investment banking, asset management, and financial solutions.
In other recent news, Mercurity Fintech Holding Inc. has announced several developments. The company revealed that Chaince Securities, its wholly owned subsidiary, acted as the exclusive placement agent for Wellchange Holdings Company Limited, facilitating a private placement that raised $4 million through the sale of 100,000,000 Class A ordinary shares. Additionally, Chaince Securities completed another significant transaction by serving as the exclusive placement agent for Trident Digital Tech Holdings Ltd in a $2.6 million private placement of securities. In another update, Mercurity Fintech’s ordinary shares are now available for options trading across multiple U.S. exchanges, as announced in a company press release. Furthermore, Chaince Securities has entered into a non-binding Memorandum of Understanding with Singapore-based OGBC Group to explore digital asset integration with traditional finance. This partnership aims to create a Digital Asset Treasury fund targeting blockchain projects in Asia and to investigate U.S. public companies that could adopt this strategy. These recent developments highlight Mercurity Fintech’s ongoing strategic initiatives and collaborations in the financial sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.