AEI - Alset EHome International subsidiary and Novum Alpha ink JV to launch maiden cryptocurrency ETP

Alset EHome International ([[AEI]] -4.1%) through its subsidiaries in property development, digital transformation technology and biohealth activities announced that its majority-owned subsidiary, Alset International through its wholly-owned capital markets investment arm, SeD Capital entered into a JV agreement with digital asset management firm Novum Alpha.Post the agreement, SeDCapital will own 50% of the issued and paid-up capital in the JV company Credas Capital with the remaining 50% shareholding stake held by Novum Alpha.Credas intends to develop and launch its maiden digital assets-based Exchange-Traded Product in 4Q21 on the SIX Swiss Exchange.The launch, operations and expansion of Credas will initially be financed by a $150K initial shareholder loan of which 90% will be provided by SeDCapital and the remaining contributed by Novum Alpha.Novum Alpha is a leading digital asset management firm based in Singapore specializing in trading cryptocurrencies and has a regional footprint in Malaysia, Vietnam, Indonesia, and Thailand.Overall, the value of the cryptocurrency market rose more than two-fold over the

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Alset EHome International subsidiary and Novum Alpha ink JV to launch maiden cryptocurrency ETP