The Crypto GSR trading company led a private placement of $ 100 million in Upexi (UPXI), a consumer consumer company that has pivoted a cash strategy based on digital assets.
The company, whose products include ranges of medicinal mushrooms and buzzing salons tools, said it would use the capital to accumulate and put Solana tokens (soil). Friday, the company based in Tampa, Florida, had a market capitalization of $ 3 million.
The investment, structured as a private investment in public equity (pipes), came while the Upexi goes from the manufacture of physical products to the management of part of its assessment using Solana, a high -speed blockchain known for low costs and fast settlement, according to a press release.
The investment announcement made UPEXI actions increased by more than 700%, from around $ 2.30 to $ 19 when writing the editorial’s time.
GSR’s involvement indicates an increasing overlap between public procurement and blockchain finance.
“This investment highlights the growing demand for effective and secure access to high -quality cryptography assets on public procurement,” said Brian Rudick, responsible for the research of GSR, in a press release.
The president of the Solana Foundation, Lily Liu, said that the agreement has marked another step in the connection of traditional financial companies to decentralized infrastructure.
This decision “underlines GSR’s confidence in Solana as a high performance blockchain,” the financial company said in a statement.
