Hong Kong-based Ming Shing Group Holdings has agreed to acquire 4,250 bitcoins worth nearly $483 million, adding digital assets to its corporate treasury.
Ming Shing Group Holdings Limited, a leading Hong Kong construction company listed on NASDAQ as MSW, signed a purchase agreement with Winning Mission Group Limited.
Ming Shing Enters Bitcoin Treasury Strategy
The deal covers 4,250 bitcoins, totaling about $482.96 million. The average price per bitcoin is $113,638. The company expects the transaction to close by December 31, 2025. Payment will occur via a convertible promissory note and share warrants.
The company also assigned 50% of the transaction value to Rich Plenty Investment Limited. In return, Rich Plenty issued a promissory note equivalent to 2,125 bitcoins. After this assignment, Ming Shing will issue convertible notes and warrants to both the seller and the assignee. Each will have the option to acquire 201.2 million ordinary shares.
This acquisition marks Ming Shing’s first step into a bitcoin treasury strategy. The company aims to hold digital assets on its balance sheet to enhance liquidity and long-term value potentially.
The convertible promissory notes carry a 3% annual interest rate and mature in ten years. Holders may convert the notes into ordinary shares at $1.20 per share, subject to adjustments. The conversion is capped so no holder can own more than 4.99% of total shares outstanding.
The warrants allow each holder to purchase up to 201.2 million ordinary shares at $1.25 per share. The term lasts 12 years. Both the notes and warrants are exempt from U.S. securities registration and follow the same ownership limitations.
“We expect this acquisition to expand our digital asset holdings,” said CEO Wenjin Li. “It also lets us take advantage of bitcoin’s liquidity and its potential price growth. This is a big step for us into a bitcoin treasury strategy.”
The acquisition illustrates a growing trend among Asian companies outside the financial sector, which are adopting bitcoin treasury strategies to diversify corporate assets and explore digital currency exposure.
While most DeFi protocols chase the same categories, such as blue-chip tokens, staking protocols, and liquid stablecoins, a different type of asset activity is growing behind the scenes. People hold NFTs, LP tokens, meme coins, and tokenized real-world assets in their wallets that represent value, but most of them sit unused because few platforms are built to support them.
Paddle Finance was designed for this gap: a lending and trading protocol built to unlock liquidity from non-standard assets. It operates on Base and Berachain, where activity is accelerating. Berachain alone has reached $2.69 billion in TVL. While others chase volume in familiar categories, PaddleFi focuses on helping users make use of what they already hold.
Why Berachain Fits the Model
There’s no shortage of new L1s and L2s, but Berachain stands apart in how it ties liquidity to real utility. Its Proof of Liquidity (PoL) model rewards protocols for real on-chain activity rather than passive staking, making it a strong match for products built around asset movement and user interaction.
Berachain has also become home to a fast-growing NFT ecosystem, especially among more degen communities. Projects like Steady Teddys, Bullas, Mibera, and Yeet are drawing in active participants. These collections are already being used within PaddleFi for borrowing, OTC trading, and community-focused liquidity programs.
On the technical side, Berachain uses Ethereum-compatible tools, lowering friction for deployment. But what sets it apart is its alignment with platforms like PaddleFi that serve assets outside the ERC-20 standard—assets that often emerge organically from community-driven culture, not top-down design.
What PaddleFi Actually Does
Most DeFi platforms were built around standard tokens, and that makes sense as for a long time, those were the only assets with enough liquidity to be usable. But that’s no longer the case. NFTs now hold real on-chain value, RWAs are being tokenized, and meme coins often have strong market caps and communities. These assets still get limited support, but PaddleFi is designed specifically for them.
It offers:
NFT lending through peer-to-peer and instant loan models
Trustless OTC trading for NFTs, RWAs, and tokens without going through centralized platforms or brokers.
Basket collateral for multiple assets to be packaged into a single loan or trade.
This structure gives users more flexibility without needing to sell or split up what they own. It also creates access for groups that often get left out—collectors, small token holders, and early-stage RWA participants.
$2.55 Million TVL and Growing
PaddleFi’s traction on multichain is measurable. As of now, the protocol holds over $2.55 million in assets locked across its contracts. In just April, it has already processed more than $3 million in volume, with growing usage in lending and OTC functions. That’s a meaningful signal in an ecosystem still in its early stages, especially considering the complexity of the assets being supported.
And the activity isn’t coming from generalized DeFi users; it’s coming from NFT-native and degen communities on Berachain. Many of the assets being used on PaddleFi aren’t tokens you’ll find on major exchanges. They’re “middle-class” NFTs—collections with strong engagement, but not always headline prices, low-float meme tokens, and in-development real-world asset projects that are experimenting with early liquidity.
This fits naturally with Berachain’s design, a chain built around activity, not polish. Where value is more about how assets are used than how they look, PaddleFi offers clear utility for communities that want to do more than just hold.
Filling a Gap That’s Easy to Overlook
Berachain already has protocols that cover the basics: Kodiak for swaps, Infrared for staking, and Honey for stablecoin liquidity. What’s been missing is a way to use assets that don’t fit into those buckets.
That’s where PaddleFi fits in. It connects overlooked assets like NFTs and RWAs to usable tools. NFT holders can borrow without selling. RWA investors can access capital without waiting for centralized approval. Smaller tokens can be traded directly without needing a formal market.
PaddleFi doesn’t aim to replace other dApps; it adds functionality around asset types that usually get ignored. And in a chain like Berachain, where liquidity is high but fragmented, that role matters. PaddleFi helps bring more of that capital into circulation.
The Bigger Picture
If you zoom out, what PaddleFi is doing is simple: it’s building tools for assets that don’t yet have default infrastructure. But the implications are larger. As the definition of “on-chain assets” continues to expand, the platforms that support the long tail, rather than only the top 10 tokens, will be the ones that grow alongside the space.
PaddleFi is betting that the future of DeFi won’t just be about liquidity, but also about how many types of assets you can make liquid. And so far, that bet is paying off.
With Berachain scaling quickly and its Proof of Liquidity (PoL) model rewarding real usage, PaddleFi is well-positioned to go deeper. The upcoming launch of NFT-backed money markets will give collections another way to tap into DeFi building blocks, and protocols like PaddleFi are key to making that possible.
This combination of infrastructure and community alignment is proving durable. It’s a glimpse of what the next phase of DeFi infrastructure might look like: fast, flexible, and built for assets that don’t follow a template but still belong in the same system.
As blockchain technology continues to surge, the demand for digital asset appreciation has become a key drive of industry development. However, the limitations of traditional financial models and the complexity of on-chain operations present significant challenges for investors.
On one hand, traditional wealth management offers high barriers to entry and low returns, falling short of investor expectations for rapid asset growth. On the other hand, the complicated processes and potential risks of on-chain activities deter many users from participation.
Against this backdrop, Gate.io Staking provides users a safe, flexible, and high-yield solution for digital asset growth, leveraging innovative financial models and robust technology, trying to redefine the future of on-chain wealth management.
An Innovative Financial Model Potentially Ushering in a New Era of Digital Asset Growth
The launch of Gate.io Staking marks a new chapter in digital asset management. By integrating popular Proof-of-Stake (PoS) projects, the platform opens a novel pathway for users to grow their assets. Users can simply stake a certain amount of crypto assets to earn substantial on-chain rewards.
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From the perspective of product design, Gate.io Staking stands out with its distinct advantages. The platform gathers the industry’s top PoS projects, offering users a wide selection of premium opportunities and competitive yields. Its flexible staking and redemption mechanism grants users greater control over their investments, allowing them to adjust their asset allocation at any time without worrying about long-term lockups.
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Embrace DeFi: Unlock New Staking Opportunities
Recently, Gate.io Staking has officially integrated new DeFi protocols, offering users greater asset transparency and lower transaction costs. By leveraging carefully selected on-chain lending, re-staking, and decentralized exchange (DEX) protocols, the platform provides enhanced liquidity and diversified earning opportunities.
Through deep integration with leading DeFi lending protocols such as Compound V3 and Aave V3, users can stake mainstream stablecoins like USDC and USDT to earn multiple token rewards, including USDC, USDT, AVAX, and COMP. This model offers stable and reliable returns, with competitive annualized yields designed to bring better investment experience to users.
In addition, Gate.io Staking integrates the dYdX protocol, enabling users to stake DYDX with a single click on Gate.io to earn yield in USDC stablecoins. This DeFi integration expands earning possibilities while leveraging the transparency and security of decentralized finance, providing users with a safe and reliable investment environment.
Diversified Tokens Launched: Capture New Opportunities of Asset Growth
Recently, Gate.io Staking is set for a major product upgrade, with the addition of four popular assets: USDT, USDC, DYDX, and AVAX. Alongside this expansion, the platform is launching exclusive bonus rewards, offering annualized yields of up to 9.02%, creating unprecedented earning opportunities for investors.
USDT and USDC staking and yield distribution are enabled through multiple diversified DeFi protocols such as AAVE V3 and Compound V3, each offering unique operation modes and risk-return profiles. Investors can choose their preferred protocols based on individual risk tolerance and investment objectives, enjoying stable returns from digital asset growth.
With multi-layered reward mechanisms, Gate.io Staking delivers diversified income streams, further improving its attraction to users and solidifying its position as the go-to platform for digital asset growth. Benefited from the platform’s flexible staking policies, users are able to fully maximize returns on their assets through staking with ease.
Seize the Opportunity: Embark on the Digital Asset Growth Journey
In the fast-evolving digital asset landscape, every investor seeks a secure, efficient, and rewarding path to wealth growth. Powered by innovative financial models, robust technology, and a rich selection of projects, Gate.io Staking offers a comprehensive platform to grow digital assets for users.
Now is the time to take action and embark on a new journey of digital asset growth. Register Gate.io today and get a new experience of on-chain wealth management, maximizing your digital asset growth in a secure and transparent environment.
Disclaimer: The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement.
