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LONDON - Amazing AI plc (AQSE:AAI), a fintech group specializing in online consumer loans and AI finance services, announced Thursday an update to its Crypto Treasury Policy that will expand beyond Bitcoin to include a diversified portfolio of digital assets.
The company plans to invest in a pool of five crypto assets including Bitcoin and Ethereum, according to the press release statement. AAI intends to begin purchasing crypto assets this month, starting with Bitcoin, using funds from an accelerated bookbuild announced on September 11.
The updated policy includes criteria for cryptocurrency selection, requiring assets to have a minimum market capitalization of $500 million, average daily liquidity of at least $50 million over the past 30 days, and a trading history of at least 180 days.
AAI stated it has received formal legal advice on its regulatory status and compliance with applicable regulations, including FSMA, Money Laundering Regulations, and UK AIFMD. The company will seek additional legal advice before acquiring non-Bitcoin crypto assets.
The firm’s risk management approach will address volatility, security encryption, storage protocols, and counterparty risk mitigation, according to the announcement.
Paul Mathieson, CEO of Amazing AI, said in the statement that the company has "a developed approach to crypto-treasury management" that aims to "provide greater upside whilst insulating Amazing AI from downside exposure across a basket of leading crypto assets."
The company emphasized that it will utilize cryptocurrencies as part of its treasury strategy while maintaining proportionate activity in its core business operations.
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