PANews reported on December 13 that according to The Block, Hengfeng International announced the completion of a $100 million financing, of which Chairman Qian Fenglei personally invested $50 million and the remaining funds came from 50 investors. This round of financing will be used to build the Web3 ecosystem FO-X (fo.com), and the first product is the instant messaging software FoChat, which is positioned as a Web3 investment exchange platform for ordinary users.

The FO-X project has formed a team of top talents in IT technology and finance, including members from well-known listed companies and Wall Street in the United States. FoChat will integrate encryption technology and AI agents to provide 24/7 news information, asset management tools and other functions, including wallet address monitoring, capital flow analysis and smart contract security testing. The platform will help users understand blockchain technology through gamification tasks and promises to introduce a community autonomy (DAO) mechanism.

It is worth noting that FO-X will launch payment and wallet products in the future, committed to solving the problem of low capital turnover efficiency of the traditional SWIFT system and realizing 24/7 instant payment services. As a top 100 philanthropist on the Hurun and Forbes charity lists, Qian Fenglei has previously participated in investments in Ant Financial, Kuaishou, Ali Health and other projects, with a cumulative charitable donation of hundreds of millions of yuan in the past decade. He is also an investor in Yunfeng Fund and Hongtai Fund and a member of the China Council of the Nature Conservancy.