KUALA LUMPUR: Industronics Bhd
's wholly-owned subsidiary Olympex Sdn Bhd has inked an agreement with China Information Technology Development (Hong Kong) Ltd (CITD) to jointly develop and market tokenised corporate bonds.
In a filing with Bursa Malaysia, Industronics said its unit and CITD have entered a strategic partnership to explore the tokenisation of corporate bonds up to HK$180mil, for one of Olympex's corporate clients.
It said the tokenisation of corporate bond leverages Xtreme Business Enterprises Limited’s proprietary DOT technology and CITD’s AI and cloud technologies.
"This strategic partnership allows all parties to explore the applications of tokenisation into traditional investment products and aligns with the Company’s business plan of developing Web3.0 and blockchain businesses," it said.
