SUZHOU, China, March 27, 2025 /PRNewswire/ — GCL Energy Technology Co., Ltd. (002015.SZ) has spearheaded the development of China’s inaugural technical standard for blockchain-based real-world asset (RWA) tokenization, titled Trusted Blockchain: Technical Specifications for Tokenizing Physical Assets (referred to as the Specifications). The standard, recently approved by the China Academy of Information and Communications Technology (CAICT), establishes a trust framework for the trillion-dollar RWA market. 

On December 23, 2024, GCL Energy Technology and Ant Digital Technologies jointly launched China’s first RWA project for photovoltaic (PV) assets, valued at over RMB 200 million. Anchored by 82MW of residential solar assets in Hubei and Hunan provinces, the project integrates blockchain and IoT technologies to encrypt and tokenize critical operational data and revenue streams, creating traceable and tamper-proof digital tokens. This initiative exemplifies core principles outlined in the Specifications, including “cross-verification of data authenticity” and “unique device identity authentication.” According to Boston Consulting Group (BCG), the global tokenized asset market is projected to reach $16 trillion by 2030, with renewable energy assets poised to drive significant growth. 

The Specifications mandate three core principles for asset tokenization: completeness, validity, and timeliness, requiring data to be sourced directly from certified IoT devices. GCL’s residential PV system employs smart terminals embedded with trusted SDKs to collect real-time generation data, enabling blockchain-based lifecycle certification. This transparency significantly lowers financing barriers for solar assets by providing investors with verifiable revenue streams. 

In December 2024, GCL and Ant Digital Technologies inked a strategic partnership to deepen collaboration in distributed PV, energy storage, and integrated energy services. Ant’s platform—comprising an Asset Chain, Transaction Chain, and Trusted Cross-Chain Bridge—has already enabled GCL to tokenize asset ownership and fund flows, with future applications extending to carbon credit trading. 

Industry analysts note that GCL’s dual role as both a standard-setter and large-scale practitioner strengthens its leadership in green finance. The Specifications are expected to unlock global capital flows for China’s renewable infrastructure, enhance ESG recognition through blockchain transparency, and replicate the “PV + blockchain” model across charging stations and energy storage, establishing standardized solutions for the sector. 

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LONDON, March 27, 2025 /PRNewswire/ — iFAST Global Bank (“iGB” or the “Bank”) is breaking new ground in UK banking with the launch of its first-of-its-kind Multi-Currency Current Account, an innovative solution that lets customers earn competitive interest rates on multiple currencies while being rewarded for their everyday debit card spending.

For the first time, UK customers can maximise their money effortlessly, earning 3.50% AER (variable) on GBP, 1.50% AER (variable) on EUR, and 2.80% AER (variable) on USD, with no maximum interest caps. This unprecedented offering enables customers to grow their savings while maintaining instant access to their funds for spending. With an advanced numberless Visa debit card, customers can also enjoy 2% cashback on up to £2,000 of spending per month. The offer is valid for a limited time period, subject to applicable terms and conditions. 

Unlike traditional accounts, the iFAST Global Bank Multi-Currency Current Account simplifies banking by eliminating the need to transfer funds between savings and current accounts. Designed as a customer-first, all-in-one solution, it provides UK customers with simplicity, convenience, and flexibility.

“We asked ourselves: How can we create a truly groundbreaking banking experience for UK customers? Traditional banks have long imposed a major limitation – offering interest only on savings accounts while providing little to no interest on current accounts. This not only restricts financial growth but also makes money management cumbersome. Our Multi-Currency Current Account transforms the landscape by seamlessly combining high interest with complete flexibility for spending, saving, and transfers. This empowers customers to maximise their money effortlessly while enjoying a seamless and rewarding banking experience. At iFAST Global Bank, with our commitment to IT innovation, we ensure a smooth, fully digital onboarding journey via our app or website. In addition, our dedicated digital customer service team ensures efficient resolution of enquiries and issues, no matter where our customers are in the world,” said Mr Inayat Kashif, Acting CEO, Executive Director and Chief Technology Officer of iFAST Global Bank. 

Why This Account Stands Out

• Unlimited High Interest: No minimum balance, no interest caps, maximising returns, on everyday balances backed by FSCS protection up to £85,000.
• Multi-Currency Convenience: Effortlessly save, spend, and send money abroad across multiple currencies with competitive exchange rates.
• Global Payment Security: The UK’s first multi-currency numberless Visa debit card, accepted in over 200 countries. With no printed card number, CVV, or expiry date, it offers enhanced security, with all details securely stored and managed in the mobile app.
• Digital Customer Service: Get instance support via Live Chat and Live Call over the Internet, eliminating the need to dial a phone number, even when overseas. Available 7 days a week during office hours.

“Our mission at iFAST Global Bank is to redefine how UK customers perceive and utilise their current accounts,” said Simon Lee, General Manager of the Digital Personal Banking (DPB) division at iFAST Global Bank. “We are delivering on our commitment to simplifying banking by ensuring your money never stays idle – continuously growing with higher interest while remaining instantly accessible for spending. This high-interest current account removes traditional barriers, embodying our vision of banking without boundaries, enabling customers to manage their finances smarter and simpler.”

Headquartered in London, iFAST Global Bank is the global digital banking arm of Singapore-based iFAST Corp. The Bank ensures the security of customer deposits, with protection of up to £85,000 under the FSCS scheme. Recognised for its excellence, the bank was recently named Moneyfacts Highly Commended App-Only Savings Provider of the Year 2025 and Commended for Best Customer Service. Demonstrating strong financial performance, iFAST Global Bank achieved profitability in 4Q2024 and surpassed S$1 billion in customer deposits as of end-December 2024, a significant milestone in its growth trajectory.

About iFAST Corp & iFAST Global Bank

iFAST Corp is a global digital banking and wealth management platform, with assets under administration of S$25.01 billion as at 31 December 2024. Established in 2000, it operates in Singapore, Hong Kong, Malaysia, China, and the UK. iFAST Global Bank is a fully licensed UK bank, offering multi-currency deposits, payment services, and remittance solutions. Regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), the Bank is a direct member of the Bank of England Faster Payment Scheme, Clearing House Automated Payment System (CHAPS) and SWIFT.

For more information, visit www.ifastgb.com

Media Contact:
Rachelle Au-Yeung | (+44) 7793 469015 | rachelle.auyeung@ifastgb.com / corpcomms@ifastfinancial.com

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SHANGHAI, March 27, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), a rapidly expanding leader in Bitcoin mining, today announced key highlights from its filed annual report, marked by a successful pivot towards cryptocurrency mining and significant operational milestones, including securing its position as the third-largest publicly traded miner globally and a 400% year-over-year revenue increase. 

Fourth Quarter & Full Year 2024 Financial Performance

The Company achieved total revenues of RMB668.0 million (US$91.5 million) in Q4 2024, reflecting a 400% year-over-year increase. This growth was primarily driven by the launch of its Bitcoin mining business, which generated RMB653.0 million (US$89.5 million) in revenues. Net income for the quarter was RMB55.9 million (US$7.7 million), a notable turnaround from a net loss of RMB103.8 million in Q4 2023. Cango maintained strong liquidity with cash, cash equivalents, and short-term investments totaling RMB2.5 billion (US$345.3 million) as of December 31, 2024. 

For the full year, Cango reported total revenues of RMB804.5 million (US$110.2 million), with net income reaching RMB299.8 million (US$41.1 million), a significant turnaround from a net loss of RMB37.9 million in 2023. The results reflect the successful integration of Bitcoin mining operations alongside ongoing optimization of its legacy automotive services. 

Bitcoin Mining Operational Highlights

Cango deployed 32 exahashes per second (EH/s) of Bitcoin mining capacity in Q4 2024, securing its position as the third-largest publicly traded miner globally. During the quarter, the Company mined 933.8 Bitcoin, achieving an industry-leading efficiency of 17.81 BTC per EH/s. Operational costs were optimized, with an average fleet efficiency of 21.6 joules per terahash (J/TH) and a cash cost of US$67,769.9 per Bitcoin (excluding depreciation). As of December 31, 2024, Cango held a total of 933.8 Bitcoin, aligning with its long-term accumulation strategy. 

Cango’s mining operations span five countries, including the United States (38% of total hashrate), East Africa (37%), Oman, Paraguay, and Canada. Approximately 90% of its fleet comprises water-cooled Bitmain S19XP Hyd. machines, ensuring competitive energy efficiency and operational stability. 

Looking ahead, the Company plans to expand its hashrate to 50 EH/s by the end of July 2025 through the completion of its second-phase asset acquisition. Cango aims to further reduce energy costs by leveraging favorable regulatory developments in traditional energy markets and exploring partnerships for sustainable power solutions. Additionally, Cango is committed to enhancing its presence in the digital asset ecosystem while maintaining a disciplined approach to managing its Bitcoin holdings. 

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

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