Hong Kong headquartered Metalpha is reorganizing with a focus on becoming to a global leader in digital asset wealth management.
Established in 2021, Metalpha provides cryptocurrency derivative products to institutions, which include exchanges, miners, funds, family offices, as well as custom instruments for sophisticated investors to establish or liquidate investment positions or undertake hedging strategies.
As part of the reorganization, Dragon Victory International Limited (NASDAQ: LYL) officially changed its name to Metalpha Technology Holding Limited (NASDAQ: MATH) (the Company). The Company also successfully completed restructuring with Antalpha Technologies Limited. Upon completion of the reorganization, Metalpha Limited (Metalpha) will become a wholly owned subsidiary of the Company.
"This reorganization demonstrates the high level of confidence that the Company’s management team has in Metalpha's ability to increase its presence and develop a competitive advantage under the current market conditions," Metalpha said in an announcement.
“The crypto industry continues to have room for growth, despite its challenges this year. We are looking very closely at how to build a stronger and healthier global market for digital assets, which we are doing together with our partners, such as Antalpha, and many others,” founder and CEO Adrian Wang said.
Metalpha also said it is looking to work with regulators on compliance measures and plans to invest in supporting public education in blockchain technology and hiring more personnel at its headquarters in Hong Kong.