While Ethereum (ETH) and many altcoins continue to be adopted by major companies as part of their treasury strategies, the latest news comes for Avalanche (AVAX).
Accordingly, Nasdaq-listed AgriFORCE announced that it will rebrand as AVAX One, targeting $550 million for AVAX reserves.
The company announced plans to change its name to AVAX One and focus its strategy on investing in Avalanche.
With this move, the company became the first Nasdaq-listed company to announce such a plan for AVAX.
The company has already raised $300 million through private placement in publicly traded equity (PIPE) and plans to raise another $250 million.
The statement noted that the company’s strategic advisory board will be led by SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional chairman Brett Tejpaul, along with other financial sector figures to be announced soon.
“Asset tokenization will be a major theme for the next decade in finance,” said Anthony Scaramucci. “Avalanche has clearly become the enterprise-grade platform for this shift, and SkyBridge has already begun tokenizing the network. AVAX One will be the must-have platform for public investor engagement.”
Finally, it was stated that Hivemind Capital led the financing round and more than 50 institutional and crypto investors such as Galaxy Digital, Digital Kraken, FalconX, GSR Ventures and HashKey Capital participated.
*This is not investment advice.