Asia Digital Bank Completes Issuance of Digital Assets in everPay
everVision, a Web3 infrastructure provider and Malaysia’s Asia Digital Bank Ltd (Registration No: LL.16434) (licensed Labuan Investment Bank) have furthered their collaboration by completing the issuance of the digital asset ACNH in the former’s instant Crypto payment network called everPay, which further advances the migration of traditional assets to the Web3 field.
Asia Digital Bank and everVision established a strategic partnership in November 2022, both leveraging the strengths of licensed financial institutions and experienced Web3 technology companies to jointly explore new collaboration models in the digital asset field. Driven by the close cooperation between the two parties, ACNH, a digital asset anchored 1:1 with the CNH, was successfully issued and thus achieved decentralised transactions. The asset adopts cutting-edge blockchain technology and cryptographic algorithms to provide users with a faster, safer and more efficient global exchange, remittance and payment experience.
ACNH is an innovative digital asset that is fully regulated and meets the legal and compliance requirements. Each ACNH issuance is backed by 100% equivalent real assets, including cash, cash equivalents and short-term government bonds denominated in RMB, thus ensuring a 1:1 anchoring ratio of ACNH to CNH. The strategic partnership between Asia Digital Bank and everVision provides a solid foundation for the technological development of ACNH. Both parties are committed to the organic integration of traditional finance and Web3 technology finance to offer the world with a more diverse choice of stable digital assets.
About everVision and everPay
everVision is a technology company focused on providing infrastructure for Web3. With a vision to sustain 1 billion users on the Web3, everVision explores a new paradigm of Web3 development that improves the user experience, lowers the development threshold, and enhances system performance. Its millisecond financial payment protocol, everPay, uses decentralised trusted storage to provide security and verifiability, creating a digital asset payment and settlement product close to the traditional Internet experience for users.
About Asia Digital Bank
Asia Digital Bank Limited (Labuan Investment Bank) (LL16434) (Licensed Labuan Investment Bank) is an innovative financial institution established in Labuan, Malaysia, by a leading Chinese local state-owned enterprise, and was officially granted a digital investment bank financial license by the Labuan Financial Services Regulatory Authority in November 2020. Asia Digital Bank is one of the first licensed digital investment banks in the world to provide a self-service financial system based on blockchain technology and is currently relying on the digital financial meta-universe platform A-Bank to provide global enterprises and individuals with full-chain digital asset management and transaction services that are both compliant, secure, convenient and efficient, helping to promote the digital ecology of global assets.