Lion Group Holding Ltd. (NASDAQ: LGHL) stock declined by 4.72% at last close whereas the LGHL’s stock price gains by 3.47% in the after-hours session. Lion Group Holding Ltd. is an all-in-one trading framework that focuses on Chinese customers and provides a wide range of products and services. Lion’s cutting-edge technology allows it to include contract-for-difference (CFD) trading, insurance brokerage, derivatives brokerage, and securities brokerage on its website, which is accessible through apps for iOS, Android, Windows, and macOS.
Recent Past Development
On May 13, 2021, Lion Group Holding announced the formation of Lion NFT Limited in order to join the NFT market.
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Lion NFT, based in the British Virgin Islands is a company that focuses on digital assets such as non-fungible tokens for investment and innovation. LGHL’s parent company is licensed as a money services business (MSB) by the US Treasury Department’s Financial Crime Enforcement Agency and as an encrypted commodity operating license by the Dubai Multi Commodity Center. Although collaborating directly with Royal Lion Middle East DMCC, which recognizes the UAE royal family as an investor, Lion NFT partners the world’s top art galleries and museums, as well as IP capital of very well-known artists. Lion NFT will use these tools to include services like digital asset trade, NFT creativity, issuance, and trading on a global scale while remaining compliant. The NFT trading network from Lion is set to debut at the end of the month.
Mr. Wang Chunning (Wilson), CEO of Lion commented:
Lion NFT will use NFTs to provide a full range of services to top artists all over the world, with plans to debut related artworks at well-known art festivals. Meanwhile, LGHL’s technical team has made a significant advancement in lowering the cost of manufacturing NFTs. For the next few years, there will be a vast variety of use cases for NFTs, which will only be feasible by encryption. Within the NFT sector, they expect to see an increase in innovation and experimentation over time.