New World Scion Adrian Cheng Launches Digital Asset Firm ALMAD

Adrian Cheng, former chief executive officer of New World Development Co., has announced his next move: a bet on digital assets.

Cheng has launched ALMAD Group, a company that will explore investing in digital assets and real-world asset tokenization, according to a statement released Sunday. The former New World boss will be the founder and executive chairman of the company, overseeing its financial and technology investment strategies.