Hong Kong-listed Grandshores Technology Group Ltd is seeking to raise HK$100million (US$12.7 million) through a digital token fund to invest in a Japanese Yen-backed crytocurrency project, according to Chinese media report. Grandshores Technology, formerly known as SISH Limited, was acquired in May by a company controlled by Yao Yongjie, the founding partner of Hangzhou RMB10 billion (US$1.45 billion) Grandshores Fund. Grandshores fund claims to have secured 30% of its RMB10 billion (US$1.45 billion) fundraising target from the Hangzhou government-backed global …

Hangzhou-Backed Blockchain Firm Seeks To Raise $12M For Japanese Yen Stablecoin Project appeared first on China Money Network.