The partnership will jointly develop the
Litecoin ecosystem to hedge risk and lower carbon
emissions
HONG
KONG, Feb. 24, 2023 /PRNewswire/ -- Metalpha
Technology Holding Ltd (NASDAQ: MATH), a leading wealth
management company for digital assets, has announced a partnership
with the Litecoin Foundation Ltd, a nonprofit that
supports the development and adoption of Litecoin
(LTC), a digital peer-to-peer cryptocurrency. The
partnership will jointly support research institutions to develop
hedging solutions and sustainable mining for the
Litecoin ecosystem.
The partnership's specific areas
of research will include developing derivative products,
facilitating renewable energy use and energy efficiency, and
lowering carbon emissions from blockchain mining in the
Litecoin Network. Metalpha will contribute its market
leading expertise in the innovation of financial derivative
products for digital assets, and it aims to support
crypto miners with hedging products against market
risk and lowering crypto mining's environmental
impact.
To achieve this, Metalpha and Litecoin Foundation
will work with universities and research institutions to further
sustainable blockchain innovation, support public education around
the Litecoin network, and improve network awareness,
adoption, and scalability.
"It is a great pleasure to be partnering up with
Litecoin Foundation to develop sophisticated
derivative products as well as promoting quality public education
on green mining to further the mission of building a fully
decentralized, open source, global payment network," said
Adrian Wang, Founder and CEO of
Metalpha.
"Metalpha brings rich experience and product design to
Litecoin's ecosystem and we look forward to working
together as we continue to build a secure and reliable
infrastructure for both Litecoin and the broader
crypto industry, while at the same time focusing on
research, education and environmental initiatives that are
important for sustainability," said Alan
Austin, Managing Director of Litecoin
Foundation.
Founded in 2021 and headquartered in Hong Kong, Metalpha focuses on providing
wealth management products and services for digital assets.
About Metalpha Limited
Established in 2021, Metalpha Limited is a global digital assets
wealth management company headquartered in Hong Kong. The company hires top talents from
Wall Street banks and provides crypto derivative
products to institutions, which include exchanges, miners, funds,
family offices, etc. Backed by both Metalpha Technology Holding
Limited (NASDAQ: MATH) and Antalpha Technologies Limited, the
company is one of the largest derivatives traders in Asia.
About Litecoin Foundation
Litecoin Foundation is a non-profit organization
founded to promote Litecoin for the good of society,
by developing and promoting state-of-the-art blockchain
technologies. Registered in Singapore, the Litecoin
Foundation team consists of full-time and volunteer support from
around the globe. For more information, visit
https://litecoin.net
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SOURCE Metalpha Technology Holding Limited