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Metalpha Technology, a Hong Kong based wealth management company for digital assets, has announced a partnership with the Litecoin Foundation, a nonprofit that supports the development and adoption of Litecoin (LTC), a digital peer-to-peer cryptocurrency.
The partnership will jointly support research institutions to develop hedging solutions and sustainable mining for the Litecoin ecosystem, Metalpha said in an announcement today.
The partnership’s specific areas of research will include developing derivative products, facilitating renewable energy use and energy efficiency, and lowering carbon emissions from blockchain mining on the Litecoin network. Metalpha will contribute its market leading expertise in the innovation of financial derivative products for digital assets, and it aims to support crypto miners with hedging products against market risk and lowering crypto mining’s environmental impact.
To achieve this, Metalpha and Litecoin Foundation will work with universities and research institutions to further sustainable blockchain innovation, support public education around the Litecoin network, and improve network awareness, adoption, and scalability.
Sustainable Blockchain Tech
The partnership also announced a collaboration with Hong Kong SustainTech Foundation, to focus on the application of sustainable blockchain technologies in different industrial sectors.
Adrian Wang, founder and CEO of Metalpha, said the partnership with Litecoin will "further the mission of building a fully decentralized, open source, global payment network."
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.