EDA GROUP HLDGS (02505) announced that on August 27, 2025, the Group reached a partnership agreement with UTCPAY Limited (UTCPAY) (collectively "the parties") for collaboration. Both parties will engage in deep cooperation around digital asset trading, Web3 technology and blockchain applications, fully leveraging their respective professional capabilities and resource advantages, aiming to provide advanced and professional digital asset payment service solutions for the Group's cross-border e-commerce clients.
UTCPAY agrees to provide the Group with access permissions to its digital asset payment solution technology, but will not participate in the fund settlement business of the Group's clients. The Group agrees to utilize the technical support provided by UTCPAY to help its clients complete digital asset transactions, and will implement full control over the fund settlement service needs of the Group's clients using UTCPAY's digital asset payment solution technology.
Since October 2022, the Hong Kong Special Administrative Region Government (Hong Kong Government) has promulgated a series of regulatory policies regarding cryptocurrency trading, believing that Web3 has the potential to become a trend in future financial and commercial development. On June 6, 2025, the Hong Kong Government published the "Stablecoin Ordinance (Commencement) Notice" in the Gazette, designating August 1, 2025 as the implementation date of the "Stablecoin Ordinance" (Chapter 656), aimed at regulating activities involving stablecoins and establishing a licensing system for regulated stablecoin activities in Hong Kong.
The Group believes that virtual assets entering the Web3 domain will bring tremendous opportunities. The penetration rate of cryptocurrencies in the global business sector continues to rise, gradually becoming an important component of diversified investment portfolios. Given Hong Kong's remarkable achievements in the Web3 field and the favorable environment created by the Hong Kong Government through the promulgation of series of regulatory policies for the sustainable development of the Web3 industry, the Group is confident about the future development of Hong Kong's Web3 industry, considering it an emerging market with great development potential.
The Group serves numerous cross-border e-commerce clients who have substantial payment needs for cross-border procurement and local retail. Stablecoin payment methods can significantly improve payment efficiency, reduce payment costs, and better serve cross-border e-commerce clients. The Group will work together with UTCPAY to launch technical services including stablecoin payments, optimize payment solutions, enhance customer experience, and promote the widespread application of stablecoins in payment scenarios within the cross-border e-commerce logistics industry.
According to information available to the Company, UTCPAY is incorporated in Hong Kong under the Hong Kong "Companies Ordinance" (Chapter 622 of the Laws of Hong Kong), and its main business is to provide decentralized crypto payment and wallet infrastructure services for B2B and B2C enterprises.