Home » Chinese Investor Turns to Medicinal Cannabis After Crypto ‘Winter’

Chinese Investor Turns to Medicinal Cannabis After Crypto ‘Winter’

Chinese blockchain investor Grandshores Technology has unveiled plans to enter the industrial cannabis market to reduce the negative impact of crypto winter.
news - Chinese Investor Turns to Medicinal Cannabis After Crypto ‘Winter’

Chinese blockchain investor Grandshores Technology has unveiled plans to enter the industrial cannabis market to reduce the negative impact of crypto winter.

The company stated that cultivation of industrial hemp will become it’s new business focus, powered by resources previously reserved for global blockchain investment.

According to the firm’s co-chairman Yao Yongjie, the company intends to acquire 40% equity stake investment in Hangzhou Yupu Trading, a Chinese manufacturer of industrial hemp.

“Both blockchain and industrial cannabis are the future, and both are embraced by the younger generation we are always on the search for new business growth opportunities,” Yao Yongjie said.

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