Asia’s Crypto Currents: Ethereum Adoption and Market Concentration
Jack Ma-backed Firm Invests in Ethereum-Based Insurance
Anthea Holding Limited, a Bermuda-based cryptocurrency insurance provider, recently secured $22 million in Series A funding. This financing round was spearheaded by Yunfeng Financial Group, a Hong Kong-listed fintech entity co-founded by Alibaba’s Jack Ma.
Anthea announced plans to leverage this new capital for the rollout of its inaugural Ethereum-based life insurance product. The funding will also support the company’s expansion efforts across the Asian market.
This investment follows Yunfeng Financial’s acquisition of 10,000 ETH (approximately $44 million) just over a month prior. This Ether is earmarked as a strategic reserve to support real-world asset tokenization and DeFi-linked insurance applications.
South Korean Market Sees High Concentration Among Whales
In related news from the Asian market, a significant portion of cryptocurrency holdings in South Korea is concentrated among a small number of large investors. Reports indicate that “whales,” or individuals holding substantial amounts of digital assets, account for 91% of the Korean crypto market. This highlights a notable degree of centralization within the region’s cryptocurrency landscape.
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