Intercont (Cayman) Limited Announces Strategic Acquisition of Singapore-Based Web3 Innovator Starks Network Ltd, Strengthening Its Position in On-Chain Digital Asset Infrastructure

Rhea-AI Summary

Intercont (Cayman) Limited (Nasdaq: NCT) announced on December 8, 2025 that it signed a Memorandum of Understanding to acquire a less than 50% minority stake in Singapore-based Web3 provider Starks Network Ltd and to co-develop Project zCloak Network.

Starks Network offers AI identity, enterprise self-custodial wallets, stablecoin payment systems, and AI-powered crypto payment technologies, and has received Hong Kong Cyberport incubation support and investment from firms including Coinbase Ventures. The release cites industry context: BlackRock AUM $13.46T (Q3 2025) and digital asset market cap growth from $5B (2022) to $25.5B (July 2025).

Management highlighted potential high-margin enterprise revenue (cited US$30–40M annual ranges for comparable infrastructure providers) while noting the transaction currently rests on an MOU.

Positive

• MOU to acquire a minority stake in Starks Network
• Co-development of Project zCloak Network with Web3 expertise
• Access to technologies: AI identity, self-custodial wallets, stablecoin payments
• Third-party validation via Cyberport incubation and Coinbase Ventures investment

Negative

• Minority stake (<50%) limits NCT control over Starks Network
• Transaction under MOU, non-binding pending definitive agreement

Key Figures

BlackRock AUM $13.46 trillion Global assets under management, Q3 2025, cited as institutional adoption signal

Digital asset cap 2022 $5 billion Overall digital asset market capitalization in 2022

Digital asset cap 2025 $25.5 billion Overall digital asset market capitalization by July 2025

Digital asset growth 410% Growth in digital asset market cap from 2022 to July 2025

Peer annual revenue range US$30–40 million Annual revenue range for leading privacy-preserving infrastructure providers

NCT market cap $15,786,381 Pre-news market capitalization from market context

Price vs 52-week high -93.8% Distance from 52-week high of $8.7599 before this announcement

Price vs 52-week low 0% Trading at 52-week low of $0.543 before news

Market Reality Check

$0.5430 Last Close

Volume Volume 147,392 is about 14% of the 1,052,893 share 20-day average, indicating subdued pre-news trading. low

Technical Price $0.543 is trading below the 200-day MA of $2.53 and matches the 52-week low.

Peers on Argus 2 Up

Scanner shows marine peers like RUBI and TORO up about 4.91% and 4.83% with no news flagged, while NCT’s setup before this Web3 acquisition news was weak and at a 52-week low, suggesting stock-specific factors rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	Ro-ro partnership	Positive	-26.9%	Announced large low-carbon ro-ro partnership with projected multi-year revenue and profit.
Jul 15	Earnings update	Neutral	-4.4%	Reported H1 2025 revenue and gross profit growth but sharply lower net income.

Pattern Detected

Recent positive or strategic announcements have been followed by weak to negative price reactions, including a sharp selloff after a large ro-ro partnership.

Recent Company History

Over the last six months, NCT combined capital markets activity with strategic growth. A July 15, 2025 earnings update showed revenue up 8% to $13.4M but a 43% drop in net income to $0.9M, and the stock slipped 4.44%. On Dec 1, 2025, a ro-ro vessel partnership projected $118.25M revenue and $88.96M net profit, yet shares fell 26.87%. Today’s Web3-focused acquisition MOU marks another diversification step beyond core shipping operations.

Market Pulse Summary

This announcement outlines NCT’s plan to buy a minority stake in Starks Network and co-develop the zCloak Network, extending its strategy beyond shipping into on-chain asset infrastructure. The move follows prior growth steps, including a large ro-ro partnership projecting $118.25M in revenue, and comes as NCT trades at its $0.543 52-week low. Investors may watch how this Web3 initiative integrates with core operations and interacts with existing financing structures disclosed in recent F-1 and 20-F filings.

Key Terms

stablecoin financial

"The global adoption of stablecoin-based payment systems has accelerated rapidly."

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

assets under management financial

"BlackRock reported $13.46 trillion in assets under management (AUM) in Q3 2025"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

digital asset financial

"the overall digital asset market capitalization surged from $5 billion in 2022"

A digital asset is a representation of value or rights that exists only in electronic form—like digital versions of cash, stocks, or collectibles kept in a virtual wallet. They are transferred and recorded using computer systems that make copying or tampering difficult, and can include currencies, tokenized shares, or unique digital items. Investors care because digital assets can offer new ways to diversify, trade and raise capital, but they also bring different risks around price swings, custody and regulation.

AI-generated analysis. Not financial advice.

HONG KONG, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Intercont (Cayman) Limited (Nasdaq: NCT)(“NCT” or “the Group”), a global carbon-neutral shipping company, announced that, it has entered into a Memorandum of Understanding (MOU) to acquire a less than 50% minority stake of Starks Network Ltd (“Starks Network” or “the Company”) , a leading Singapore-based Web3 technology service provider and will co-develop the Project zCloak Network (“zCloak”). This strategic agreement marks a significant milestone, positioning NCT and zCloak to jointly advance the integration of maritime services and blockchain technology.

Starks Network, incorporated in the Cayman Islands with operational headquarters in Singapore, has established strong competitive advantages in the global Web3 ecosystem with Project zCloak Network. The company’s proprietary frameworks and compliance-forward infrastructure span AI identity, enterprise self-custodial wallets, stablecoin payment systems, and AI-powered crypto payment technologies. These differentiated capabilities create substantial barriers to entry and have earned zCloak grant by official Hong Kong Cyberport incubation programs, as well as investments from top-tier venture capital firms including Coinbase Ventures. zCloak is widely regarded as a high-growth technology leader with robust investor support.

zCloak Network Vision

The global adoption of stablecoin-based payment systems has accelerated rapidly. With the static by Stablecoin Insider, worldwide stablecoin transaction volume has surpassed the combined annual processing volume of Visa and Mastercard in 2024—an inflection point signaling stablecoins’ emergence as critical financial infrastructure.^[1]

Meanwhile, McKinsey points out the growth rate of stablecoin transaction is in accelerating tendency and could surpass legacy payment volumes in less than a decade. On that basis, as on-chain payment matures, institutional and enterprise clients continue to demonstrate strong demand for secure, extensible, and compliant wallet solutions.^[2]

BlackRock reported $13.46 trillion in assets under management (AUM) in Q3 2025, underscoring the early participation of major financial institutions.^[3] Meanwhile, the overall digital asset market capitalization surged from $5 billion in 2022 to over $25.5 billion by July 2025, representing growth of approximately 410%.^[4] As digital assets become a central driver of innovation in global finance, governments and financial institutions worldwide are racing to establish strategic footholds.

Bitcoin image

NCT’s planned acquisition of zCloak represents a decisive step in its long-term strategy to expand into the digitization of real-world assets while reinforcing its leadership in global shipping services. The company will explore diversified pathways for tokenizing real-world assets across industries, leveraging zCloak’s technical infrastructure to deliver standardized, compliant, and scale up on-chain asset solutions. Together, both the NCT and Starks Network aim to accelerate enterprise adoption of Web3 technologies worldwide.

Ms. Muchun Zhu, Chief Executive Officer of NCT, and Dr. Xiao Zhang, Founder of Starks Network and zCloak, described this partnership as a bold convergence of tradition and innovation: “Four hundred years after Shakespeare, the Merchant of Venice sails again — on-chain.” Through this collaboration, timeless themes of contract, wealth, humanity, and justice will be re-imagined using Web3 technology.

Ms. Zhu added: “The markets zCloak operates in are already producing meaningful commercial outcomes. In privacy-preserving identity, compliance verification, and confidential computation, leading infrastructure providers routinely achieve the US$30–40 million annual revenue range, driven by institutional adoption and high-margin enterprise integration. We see a similar structural demand forming around zCloak’s technology. Our acquisition positions NCT to participate in these high-value verticals. While this does not represent a projection of future performance, it illustrates the exponential revenue potential associated with the infrastructure layer we are now building. We believe zCloak gives us a credible entry point into a rapidly expanding market, and we intend to execute aggressively.”

About Intercont (Cayman) Limited

Intercont (Cayman) Limited is a global shipping enterprise with plans for seaborne pulping operations. Under a visionary management team, Intercont is dedicated to providing customers with efficient and environmentally friendly transportation solutions through innovative business models and technology. For more information, please visit: https://www.intercontcayman.com.

Forward-Looking Statement

This press release contains statements of a forward-looking nature. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Contact information:

investorrelations@intercontcayman.com

+852-3848-1720

Data Source:

[1] Stablecoins Hit $27.6 Trillion Volume, Surpassing Visa and Mastercard Combined After Just 11 Years

Stablecoins Hit $27.6 Trillion Volume, Surpassing Visa and Mastercard Combined After Just 11 Years

[2] The stable door opens: How tokenized cash enables next-gen payments

Stablecoins payments infrastructure for modern finance | McKinsey

[3] BlackRock Inc. Q3 2025 Report

BLK-3Q25-Earnings-Release.pdf

[4] Observer Financial News Report (2025.08.07)

RWA代币化规模激增410%，真实世界资产或成加密领域下一个风口

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/61bfa9e9-c6fc-47ce-b7ab-1c14f80d9209

https://www.globenewswire.com/NewsRoom/AttachmentNg/f0917d90-f6b3-4649-b2ee-2c00ca6a03ff 

FAQ

What did NCT announce on December 8, 2025 regarding Starks Network (NCT)?

NCT announced an MOU to acquire a less than 50% minority stake in Starks Network and to co-develop Project zCloak Network.

Will NCT fully control zCloak after the acquisition (NCT)?

No; the agreement covers a minority stake of less than 50%, so NCT would not have majority control as described.

What Web3 technologies does zCloak provide that NCT will access (NCT)?

zCloak offers AI identity, enterprise self-custodial wallets, stablecoin payment systems, and AI-powered crypto payments.

Is the NCT–Starks Network deal final as of December 8, 2025?

No; the companies signed an MOU, which is a preliminary, non-binding agreement pending definitive documentation.

What market context did NCT cite for the zCloak acquisition (NCT)?

NCT cited digital asset growth to $25.5B by July 2025 and BlackRock AUM $13.46T (Q3 2025) to frame institutional momentum.

Did NCT disclose a purchase price or closing timeline for the Starks Network stake (NCT)?

No purchase price or definitive closing timeline was disclosed in the announcement.