HGC (BVI) Info Tech Co. Ltd.(“HGC”), the owner of Trucpal, also a blockchain-based SaaS platform serving the Chinese freight market, today announced a partnership with INX Limited (“INX”), the owner of blockchain-based trading platforms for digital securities and cryptocurrencies, to offer the Trucpal digital security token on July 25th. With a fundraising goal of $20 million.
HGC is a leading digital SaaS service provider serving the Chinese freight market. HGC maintains its strengths and position through continuous business innovation and an open system. With an annual output value of $1.5 trillion in 2020 and annual transportation volume of 52.1 billion tons in 2021 in the Chinese freight market, HGC believes that China is the world’s most promising digital freight market.
Recognising the rapid growth and benefits of blockchain technology and security tokens, HGC has worked closely with blockchain experts and advisors to launch its own security token for Trucpal’s ecosystem. After a preparatory phase, including designing the token’s economic model, and in-depth compliance audit and technology development. HGC now is ready to offer and list the Trucpal security token using the INX platform.
This collaboration between HGC and INX will bring the first Security Token to the Chinese freight market, potentially allowing millions of Trucpal users to turn their contributions into financial rewards through the Trucpal digital security token in compliance with U.S. Securities laws and regulations. It is also a very positive contribution to the development of the HGC freight ecosystem. It will foster collaboration amongst each other; and encourage both INX and HGC to explore the future of digital securities together.
Wendong Zhang, Founder of HGC: “lNX is the leader in issuance and trading services for US compliant digital securities. The cooperation with lNX will greatly help HGC to successfully issue the Trucpal token in compliance with U.S. regulatory requirements. The successful issuance of Trucpal Token can greatly promote faster development of the HGC system, can potentially gain the support of millions of loyal users and is likely to be a long-term win-win development, while creating potential rewards to Trucpal Token investors.”
Shy Datika, Founder & CEO of INX: “We are excited to bring HGC’s Trucpal capital raise to the market on July 25th, and encourage interested parties to onboard at INX today. Trucpal brings an innovative platform to the Chinese freight market, one that investors should learn about. Their decision to raise capital with INX, under U.S. securities laws is commendable, and working with their management team has provided much insight into the potential that such innovative Chinese companies offer.”
HGC(https://wehgc.com) operates a blockchain based freight service SaaS platform in China. Based on the development of e-commerce. HGC believes that China is the world’s most promising digital freight market. HGC maintains its strengths and position through continuous business innovation and an open system. The HGC/Trucpal Team has been developing and operating in the field of freight and crypto for many years. Since its official launch in Feb 1st, 2021, the Trucpal App has a record of 300 million RMB on GMV, more than 7,000 cooperatives and 4.5 million Trucpoints have been mined by its users.
The Company is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies, combining traditional markets expertise and an innovative fintech approach. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token in which it raised US$83 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.
In addition to operating two regulated trading platforms for blockchain assets, the Company’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future.