Treasure Global (TGL), an electronic commerce and fintech company listed on the stock market, said that 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 installation, while the $ 50 million other arise from an institutional partnership, according to a press release. The company is not only focusing on a single digital asset, like many other companies, but have said that it would buy cryptocurrencies, including Bitcoin
“regulated” ether and stablecoins.
Funds will help support the consumption analysis platform fueled by the artificial intelligence of the company, which should make its debut later this year, the firm said in the press release.
The moving of the treasure of digital assets aims to increase the efficiency of the balance sheet and to lay the bases of future functionalities such as tokenized loyalty programs and the crypto -based payments, added the company.
In recent months, various companies have moved to adopt cryptocurrencies such as treasury active ingredients, based on the momentum established by strategy, metaplanet and others.
These companies include K Wave Media, the first Korean media alliance listed on the Nasdaq, which has announced its intention to raise up to $ 500 million to finance BTC purchases, as well as on class assets, a education company that seeks to make a similar bet on soil.
Treasure Global currently has a market capitalization of $ 4.34 million while shares increased by more than 11% on Wednesday.
