Industronics Bhd (Itronic) has entered into a collaboration agreement with China Information Technology Development (CITD) to jointly develop and market tokenised Corporate Bonds.
The partnership involves Itronic's subsidiary, Olympex Sdn Bhd, and CITD, with the aim of exploring the tokenisation of corporate bonds valued at up to HKD$180 million, aligning with Itronic's goal to expand into blockchain and Web3.0 businesses.
Olympex specialises in tailor-made tokenomics services in the Asia-Pacific and Southeast Asia, while CITD is primarily involved in system integration and IT-related services, offering solutions like integrated marketing AI, big data analytics, and data storage.
The agreement is not anticipated to have a significant impact on Itronic's financials.