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Li Xiaolai, a veteran Chinese crypt investor, has joined a blockchain company listed on the Hong Kong Stock Exchange as executive director and co-CEO, effective December 3.
The company, the company Blockchain Grandshores Technology Group, announced On Monday, Li will oversee several blockchain-related projects, including the creation of a currency-linked fiatecoin stablecoin, work on trusted execution environments (TEEs), and more.
Li, 46, has an estimate net value approximately $ 1 billion from October 2018, according to Hurun, a company that tracks individuals of high economic value in China and the world. He has invested in several blockchain companies and is also one of the founders of the Grand Shores Global Blockchain Ten-Billion Innovation Fund, which has been launched back in April to invest in innovative startups.
Grandshores technology said that the remuneration of Li has not yet been decided by the council and that even its duration of appointment has not been fixed. As a result, he will remain in office until the next annual general meeting and will therefore be re-elected.
The listed company was known as SHIS Limited, before being renamed in August. He reached the HKEX list via a reverse acquisition of a Singapore construction company called SHIS in May.
Grandshores is going to do it to launch a stablecoin in Japanese yen by the end of this year or at the beginning of 2019, as revealed by its president and executive director, Yao Yongjie, in September.
Yuan image through Shutterstock
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