Indonesia-based fintech company DigiAsia, listed on Nasdaq under the ticker FAAS, announced plans to raise $100 million to purchase Bitcoin
Indonesia-based fintech company DigiAsia, listed on Nasdaq under the ticker FAAS, announced plans to raise $100 million to purchase Bitcoin. The firm intends to allocate up to 50% of its future net profits to further Bitcoin accumulation. DigiAsia is also exploring yield-generating strategies such as lending and staking through partnerships with regulated entities. Following the announcement, DigiAsia’s stock price surged by approximately 90%, reflecting investor enthusiasm. This move aligns with a broader trend of companies incorporating Bitcoin into their balance sheets, following precedents set by firms like MicroStrategy.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/tradfi-and-fintech/indonesia-based-nasdaq-listed-digiasia-plans-100-million-raise-allocates-50-to-a24c108c