China Stocks: Blockchain global instant cross-border remittance Mercurity Fintech Holding (MFH) (2010)

Mercurity Fintech Holding Inc. (NASDAQ:MFH) was founded in March 2010, formerly known as JMU Limited, and changed to its current name in April 2020. Before that, it was the well-known Wowo Group [JM WOWO (formerly NASDAQ:WOWO) , 2015.6—2016.12, and previously named Wowo Limited], headquartered in Shanghai, China, is one of the thousands of group buying companies that emerged overnight in China stimulated by the listing of GroupON . Fortunately, Wowo Group has survived the initial In the phase-out period, unfortunately, the industry as a whole has not been spared. After many name changes, acquisitions and acquisitions, and business adjustments, Mercurity currently claims to be the leading global instant payment network, using blockchain technology to help individuals and companies directly through banks or financial institutions, without the need for intermediary service providers. Fast and automated global instant payment services, especially instant cross-border remittances.


Mercurity Fintech Holding (MFH):

Mercurity is a future payment infrastructure that uses blockchain technology to provide a unified and smooth experience for global instant payments.

By becoming a Mercurity network node and joining the global instant payment network, as the global value network continues to grow, participate and share the huge value brought by the network effect.

The original JMU Limited:

Zhongmeilian, positioning China’s leading catering and hotel industry chain resource integration service platform, was jointly invested and established by 42 leading Chinese catering brands.

Zhongmeilian carries the profound industry mission and dreams of Chinese restaurant and hotel staff. Relying on strong capital and Internet technology, it builds up and down the industrial chain with supply chain as the core, Internet finance, industrial funds of funds, business model and brand. A service system integrating investment, Internet integrated marketing, Internet media, etc., centered on “1 core-Zhongmeilian Mall/Supply Chain Business Group” (Nasdaq listed company), connected-Internet finance business group, brand investment business Group, Zhong Media Business Group, Hezhong Alliance/Zhongmeilian Club (TOP network in the catering and hotel industry), etc. carry out overall strategic deployment, comprehensively deploy Zhongmeilian’s business map in the restaurant and hotel industry, and create a collection of business flow, logistics, and information flow. The economic operation mode of the industrial chain platform, which integrates capital flow, has received high support from the government and industry associations.

Using industrial resources as a lever, Zhongmeilian digs deep into the catering and hotel industry, and works closely with the China Hotel Association, the Chinese Cuisine Association, and the China Tourism Hotel Industry Association to establish regional sub-platforms in 100 key cities across the country, linking 1,000 catering and hotel leaders Brand enterprises and 100 urban and regional industry associations implement strategic alliances, platform sharing and benefit sharing, and build a win-win industrial ecological environment.

Zhongmeilian Mall (a B2B smart cloud procurement platform for restaurants and hotels), a subsidiary of Zhongmeilian Group, was launched for the world’s first online transaction on December 11, 2014 (Shanghai, China). As of October 2014, platform agreement purchase orders have exceeded RMB 12 billion. In 2015, driven by the core business, we will comprehensively deploy Zhongmeilian’s commercial territory in the restaurant and hotel industry.

On June 8, 2015, Zhongmeilian merged with Wowo, a NASDAQ-listed company, and successfully landed on Nasdaq in the United States, fully focused on the B2B business sector, and promoted the development of a global-oriented B2B cloud intelligent procurement platform for restaurants and hotels at full speed. In September of the same year, Zhongmei Wowo announced the divestiture of group buying and other non-catering businesses, and concentrated its superior resources on the B2B platform of the catering and hotel industry.

 The poignant history of Wowo Tuan’s listing:

  • Wowo Group announced on May 25, 2011 that it has received strategic investment from CDH, Tianyou, Zero2IPO and other investment institutions. The financing scale is estimated to be 200 million US dollars. At the same time, it started the IPO process in the United States, becoming the first company to officially enter the track of listing. Of Chinese group buying companies, but ultimately failed to go public.
  • On February 25, 2015, Wowo Tuan, which was originally scheduled to be listed on NASDAQ on the evening of the 25th, confirmed to the media that Wo Wo Tuan’s listing is still in the process.
  • On March 30, 2015, foreign media stated that Wowo would have an initial public offering on April 1. The official Houwowo official stated that there was a problem with the relevant procedures on the Nasdaq site, and the listing of Wowo was postponed until after April 7.
  • Wowo group in the last final 2015-04-08 Nasdaq Stock Exchange, as shall share in family adds one. WOWO issuance price of 10 US dollars per common stock (currently has fallen below the issue price), issued capital of 4 million shares, raised 40 million US dollars.
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