Hong Kong-listed company Dmall completes HK$393 million placement, with part of the proceeds to be invested in stablecoins and blockchain development

According to ChainCatcher, Hong Kong-listed company Dmall Smart (02586.HK) has announced the completion of a HKD 393 million placement. 50% of the net proceeds will be allocated to research and development investments in stablecoins and blockchain technology, as well as technological advancements. All of these funds will be used to cover the personnel costs of the company’s blockchain experts, who will be responsible for developing and maintaining systems and interfaces related to new business development—including systems for trading, reserve management, settlement, clearing, compliance, and issuance. These funds are expected to be utilized by the end of 2026.