Veteran Chinese crypto investor Li Xiaolai has joined a blockchain firm listed on the Hong Kong Stock Exchange as an executive director and co-CEO, effective Dec. 3.
The company, Blockchain firm Grandshores Technology Group, announced Monday that Li will now oversee various blockchain-related projects including the creation of a fiat currency-linked stablecoin, work on trusted execution environment (TEE) applications and more.
Li, 46, has an estimated net worth of around $1 billion as of October 2018, according to Hurun, a firm that tracks high net-worth individuals in China and worldwide. He has invested in several blockchain companies and is also one of the founders of Grand Shores Global Blockchain Ten-Billion Innovation Fund, which was launched back in April to invest in innovative startups.