DigiAsia Corp, an Indonesia-based fintech company listed on Nasdaq under the ticker FAAS, announced plans to raise $100 million to purchase Bitcoin for its corporate treasury
DigiAsia Corp, an Indonesia-based fintech company listed on Nasdaq under the ticker FAAS, announced plans to raise $100 million to purchase Bitcoin for its corporate treasury. The company intends to allocate up to 50% of its future net profits to acquiring Bitcoin, signaling a strategic adoption of the cryptocurrency as a treasury reserve asset. DigiAsia is also exploring crypto yield strategies such as lending and staking through partnerships with regulated entities. Following the announcement, DigiAsia’s shares nearly doubled in value. This move aligns DigiAsia with other public companies increasingly adding Bitcoin to their balance sheets.
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Source: https://thedefiant.io/news/tradfi-and-fintech/nasdaq-listed-digiasia-plans-to-raise-100-million-to-buy-bitcoin-allocate-50-to-21348638