Asia’s largest Bitcoin holder, Boyaa Interactive, has invested in BounceBit’s real-world assets (RWA) initiatives as part of its strategic Web3 efforts. The company has also joined the government-backed Cyberport incubator to build a strategic CeDeFi+RWA hub.
Boyaa Interactive’s Foray into RWA with BounceBit
The investment comes at a time when BounceBit recently announced plans to expand into RWA with support from institutional and regulatory partners.
⚪️🟡We’re proud to announce that Boyaa Interactive, an investment holding company listed on HKEX, has made a strategic investment in BounceBit.
Welcome aboard the CeDeFi train!
🔗https://t.co/Jldjqzvd3B pic.twitter.com/UCVFwDdxxW— BounceBit (@bounce_bit) December 10, 2024
The official statement roughly translates: “The meeting of directors (“Directors”) of the Company (the “Board”) hereby announces that the Group and BounceBit Limited (“BounceBit”) entered into an investment agreement to invest in the Web3 asset management platform BounceBit (“BounceBit Platform”) capital and has completed the capital contribution (“Investment”).” As part of its investment, Boyaa received notification from BounceBit confirming that the company’s investment has been converted into 4,200,000 BB tokens. BB token is the governance token of the BounceBit platform. Its main functions are governance, security maintenance, and CeDeFi value capture.
Boyaa recently surpassed Japan’s Metplanet, which holds 1,018 Bitcoins, and now holds 3,183 BTC. Boyaa established itself as the largest corporate holder of the flagship asset in Asia, with the BTCs acquired at an average price of $2,777 per coin.
Boyaa also known as ‘Asia’s MicroStrategy’ due to its Bitcoin holding strategy, took the lead in launching the world’s first Bitcoin (BTC)-pledged public chain and CeDeFi infrastructure and introduced an innovative Liquidity Custody Token (LCT). Through CeDeFi, an innovative financial model combining centralization and decentralization, BounceBit aims to unlock the full network value of Bitcoin (BTC).
BounceBit (BB) Surges
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Post the announcement, BounceBit (BB) saw a surge in its market price.
At the time of writing, BB is quoted at $2.34, after a rise of 4.15%. Its market cap, too, has gone up by 34.90% to $234.15 million. $BB’s 24 hour market volume too has seen a significant optimism post the investment , and going up by 82.39%, $169.92 million.
The market value of the BB token is approximately US$173 million, with a fully circulated market value of approximately US$760 million. The market value of the 4,200,000 BB tokens held by the group is approximately US$1.5032 million and will be unlocked linearly over twenty months starting in May 2025.
The BounceBit project was led by Blockchain Capital and Breyer Capital and is funded by the Group, Binance Labs, NGC Ventures, and OKX Ventures.
Also Read: Japan’s Crypto Exchange Coincheck(CNCK) Debuts on NASDAQ
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