After Bitcoin (BTC), altcoins are also frequently preferred by companies within the scope of their treasury strategy.
While Ethereum (ETH) is at the forefront at this point, companies are turning to various altcoins. The latest news has arrived for Toncoin (TON).
Accordingly, Nasdaq-listed company Verb Technology (Nasdaq: VERB) has raised $558 million to establish the first publicly traded Toncoin treasury strategy firm, rebranded as TON Strategy Co. (TSC).
The deal, led by Kingsway Capital, includes more than 110 institutional and crypto investors.
With this investment, Verb Technology will establish the first public company dedicated to TON strategies.
“By partnering with Kingsway Capital, the company plans to rebrand as TON Strategy Co. (TSC) and become the first publicly traded treasury reserver of Toncoin (TON), the native cryptocurrency of The Open Network blockchain.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/nasdaq-listed-company-announces-560-million-reserve-for-unexpected-altcoin-a-first/