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Chaince Digital Holdings Inc., formerly Mercurity Fintech Holding Inc. (MFH), reports developments as a blockchain-powered fintech group focused on tokenization, on-chain innovation and digital asset treasury services. Company updates center on its corporate rebrand, exchange-listing and index-inclusion milestones, and the role of its Chaince Securities registered broker-dealer subsidiary in advisory, tokenization and digital-asset treasury management.
Recurring announcements also cover proposed technology collaborations, participation in blockchain and finance industry forums, and management commentary on connecting traditional finance with crypto-native assets through compliant infrastructure and transparent treasury frameworks.
Mercurity Fintech Holding Inc. (MFH) reported significant growth in its unaudited financial results for the first half of 2020. Revenues surged to $1,392 thousand, up from $30 thousand year-over-year, driven primarily by software services in its blockchain sector. Gross profit improved dramatically to $1,313 thousand from a negative $8 thousand. The company reported a reduced net loss of $305 thousand, compared to $1,505 thousand last year. However, MFH will not provide a financial forecast for the remainder of 2020 due to pandemic uncertainty and ongoing product development.
Mercurity Fintech Holding Inc. (MFH) announced the appointment of Erez Simha as chief financial officer, effective August 24, 2020. This follows the resignation of Frank Zhigang Zhao for personal reasons. Simha has extensive experience in executive roles at public and private companies, including serving as CFO and COO at Roo Inc. and Just Inc. His previous roles at Nasdaq-listed companies include CFO at SSYS Ltd. and Orbotech Ltd.. The company aims to enhance its focus on blockchain-based digital asset infrastructure solutions.
On July 10, 2020, Mercurity Fintech Holding Inc. (MFH) announced the appointment of Mr. Samuel Y. Shen as an independent director and member of the compensation committee, effective July 9, 2020. He replaces Mr. Min Zhou, who resigned for personal reasons. Mr. Shen brings over 20 years of experience in technology and internet sectors, having held leadership roles at companies like JD Cloud and Microsoft. Chairperson Hua Zhou expressed gratitude to Mr. Zhou and confidence in Mr. Shen's ability to guide the company's growth.