Alibaba founder’s Ethereum push, whales are 91% of Korean market: Asia Express

Alibaba founder’s company backs another Ethereum-based project, South Korean whales account for 91% of the market: Asia Express.

Anthea Holding Limited, a Bermuda-based crypto insurance firm, has raised $22 million in Series A financing led by Yunfeng Financial Group, a Hong Kong-listed fintech company co-founded by Alibaba founder Jack Ma. 

Anthea said the new capital will fund the launch of its first Ethereum-based life insurance product, alongside expansion into the Asian market.

The investment comes just over a month after Yunfeng Financial purchased 10,000 ETH (about $44 million), which serves as a strategic reserve for real-world asset tokenization and DeFi-linked insurance applications.

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