Treasure Global (TGL), a listed e-commerce and fintech company, said it will invest up to $ 100 million in cryptocurrencies as part of a new capital strategy.
Half of the funding comes from an existing capital facility, while the other $ 50 million comes from an institutional partnership, according to a press release. The company not only focuses on only a digital asset that many other companies are, but said it will buy cryptocurrencies, including Bitcoin
Ether and “regulated” stableecoins.
The funds will help support the company’s artificial intelligence -driven consumer analysis platform, which is set to debut later this year, the company said in the press release.
The digital asset chain movement aims to increase the effectiveness of balance and lay the basis for future features such as tokenized loyalty programs and crypto -based payments, the company added.
Different companies have moved over the past few months to adopt Cryptocurrencies as a state -box assets, which are based on the momentum set according to strategy, metaplanet and others.
These companies include K Wave Media, the first Korean media alliance listed on Nasdaq, which advertised plans to travel up to $ 500 million for financing BTC purchases, and Classover Holdings, an educational company that looks to make a similar effort on the sun.
Treasure Global currently has a market capital of $ 4.34 million as the share rose more than 11% Wednesday.
