Intercont (Cayman) Limited entered into a memorandum of understanding to acquire a minority stake in Singapore‑based Web3 provider Starks Network, with the two companies set to co‑develop the Project zCloak Network, a blockchain platform that blends AI‑driven identity, enterprise self‑custodial wallets, stable‑coin payment systems and AI‑powered crypto payment technologies.
The partnership moves Intercont beyond its traditional maritime shipping and seaborne pulping businesses into the digital‑asset infrastructure arena, enabling the company to tokenise real‑world assets and deliver on‑chain solutions for its logistics clients. By leveraging Starks Network’s compliant, scalable framework, Intercont can offer new revenue streams while maintaining its core operations.
Starks Network brings a suite of advanced Web3 capabilities and is backed by Hong Kong Cyberport’s incubation program and investments from Coinbase Ventures, adding credibility to its technology stack. The minority stake is less than 50 % and the financial terms remain undisclosed, but the collaboration signals a significant strategic pivot for Intercont.
Intercont’s financial backdrop shows trailing‑12‑month revenue of $25.14 million, a three‑year revenue decline of 7.9 %, a net margin of 12.35 %, and a market capitalization of $15.79 million. These figures illustrate the company’s modest scale and the potential upside of entering a high‑growth technology sector.
The move taps into a market where stable‑coin transaction volume reached $27.6 trillion in 2024, surpassing Visa and Mastercard combined, and where the digital‑asset market cap grew from $5 billion in 2022 to over $25.5 billion by July 2025. CEO Muchun Zhu noted that infrastructure providers in the Web3 space routinely generate $30–$40 million in annual revenue, underscoring the potential upside of the partnership.
By integrating Starks Network’s technology, Intercont aims to create new revenue streams and strengthen its competitive positioning, while preserving its core maritime operations. The memorandum of understanding signals a strategic pivot toward high‑growth technology sectors, offering investors a new growth avenue.
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