MultiMetaVerse provides update on joint venture with Zhenghe

MultiMetaVerse (MMV) Holdings announced an update on its previously announced joint venture with ZHENGHE HOLDING, GOLD ABC DIGITAL TECHNOLOGY. GOLD ABC is a Hong Kong-based entity focused on algorithms to achieve self-holding asset appreciation. This collaboration with Zhenghe aims to leverage the expertise of both parties in financial technology, blockchain, and traditional finance. MMV owns 20% of GOLD ABC and ZHENGHE is responsible for GOLD ABC’s daily management and operation. It was previously announced that GOLD ABC had borrowed 500 Bitcoins from Zhenghe at an average cost of $60,000 per Bitcoin for a one-year term at 8% interest per annum. On November 8th, 2024, MMV and Zhenghe entered into an agreement whereby Zhenghe agreed to waive the interest payment. As of November 10th, 2024, the price of Bitcoin was $80,600 per Bitcoin.