Hong Kong Property Giant International Business Settlement Forms Crypto Joint Venture

Hong Kong-listed International Business Settlement Holdings Limited announced the formation of a joint venture to enter the cryptocurrency business sector on August 8, 2025. The company's wholly-owned subsidiary Chengtai will partner with Mr. Chen Sanming to establish the new enterprise, with Chengtai holding a 70% stake and Chen retaining 30% ownership upon registration.

International Business Settlement Holdings, trading under stock code 00147.HK, operates primarily as an investment holding company with business segments spanning property development and hotel operations across Mainland China and Hong Kong. The Hong Kong-based firm has traditionally focused on real estate ventures, making this cryptocurrency pivot a significant strategic shift for the company.

The joint venture announcement comes at a pivotal time for Hong Kong's cryptocurrency landscape. The territory has been positioning itself as a crypto-friendly jurisdiction, with new stablecoin licensing requirements taking effect from August 1, 2025, requiring licenses from the Hong Kong Monetary Authority for any fiat-pegged stablecoin issuance. Hong Kong maintains a 0% capital gains tax on cryptocurrency transactions and offers clear regulatory frameworks that have attracted numerous crypto businesses to the region.

The move aligns with Hong Kong's broader strategy to become a leading digital asset hub, following the territory's introduction of comprehensive Virtual Asset Service Provider licensing regimes. Industry observers note that the timing coincides with major developments in the sector, including recent announcements from Animoca Brands and Standard Chartered establishing stablecoin operations in Hong Kong.

The cryptocurrency sector has seen increased institutional adoption in Hong Kong throughout 2025, with the HKMA expecting to grant the first batch of stablecoin issuer licenses early next year. Regulatory authorities have emphasized that only a select number of operators are expected to receive initial approvals, making the environment highly competitive for new entrants.

For International Business Settlement, this joint venture represents a diversification strategy beyond its traditional property development roots. The company's decision to maintain majority control through its 70% stake suggests confidence in the venture's potential while allowing partner Chen Sanming to contribute specialized expertise in the cryptocurrency domain.

The territory's regulatory clarity and favorable tax treatment continue to attract both established financial institutions and emerging crypto enterprises seeking compliant operational bases in Asia's financial hub.