Treasure Global (TGL), an electronic commerce and Fintech firm that is listed on the stock market, said it will invest up to $ 100 million in cryptocurrencies as part of a new capital strategy.
Half of the financing comes from an existing capital center, while the other $ 50 million come from an institutional association, according to a press release. The company does not focus only on a single digital asset, such as many other companies, but said it will buy cryptocurrencies, including bitcoin.
ether and stable “regulated”.
The funds will help support the company’s artificial intelligence consumption analysis platform, which will debut at the end of this year, the firm said in the press release.
The Digital Assets Treasury Movement aims to increase balance efficiency and establish the bases for future characteristics, such as tokenized loyalty programs and cryptography -based payments, the company added.
Several companies, in recent months, have moved to adopt cryptocurrencies as treasure assets, based on the impulse established by strategy, Metaplanet and others.
These companies include K Wave Media, the first Korean media alliance that appears in Nasdaq, which announced plans to raise up to $ 500 million to finance BTC’s purchases, as well as Classover Holdings, an educational company that seeks to make a bet similar to Sol.
Treasure Global currently has a market capitalization of $ 4.34 million, since the shares rose more than 11% on Wednesday.
