Newland's Stock Rises Amid U.S. MSB License Acquisition

According to BlockBeats, Newland, a company listed on the main board of the Shenzhen Stock Exchange, has seen its stock price increase by 4.98% over the past five days, raising its market value to 32.634 billion yuan. Recently, Newland announced that its subsidiary, Hong Kong Xingyi Payment Co., Ltd., has successfully established NovaPay US Inc., a wholly-owned subsidiary, which has obtained a Money Services Business (MSB) license from the U.S. Financial Crimes Enforcement Network (FinCEN). NovaPay US Inc. has a registered capital of $1 and its business scope includes currency transactions or transfers, such as currency exchange and international remittance services. The acquisition of the U.S. MSB license is intended to provide legal access for conducting cross-border financial operations, covering areas such as currency exchange, remittances, and digital currency transactions. This move aims to establish infrastructure for connecting with major global financial institutions.