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
View original content:https://www.prnewswire.com/news-releases/metalpha-and-litecoin-foundation-partner-to-develop-hedging-solutions-for-sustainable-crypto-mining-301755301.html
SOURCE Metalpha Technology Holding Limited
