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LONDON - Amazing AI plc (AQSE:AAI), a fintech group specializing in online consumer loans, announced Friday it is updating its Bitcoin Treasury Policy and is in discussions with a major regulated bitcoin custodian.
The company plans to establish a bitcoin treasury through a custodian that manages over $100 billion in assets for more than 1,500 institutional clients across 50 countries, according to a press release statement.
The custodian would facilitate bitcoin purchases and provide secure cold wallet storage, eliminating risks associated with cryptocurrency exchange hot wallets. The arrangement would also allow Amazing AI to borrow against its bitcoin holdings at up to 50% of their value.
Amazing AI indicated these borrowed funds would support its lending operations in the United States, where it currently charges 59.9% annual interest in Georgia. The company estimates that a £20 million bitcoin purchase could potentially enable borrowing of up to £10 million, which it projects could generate approximately £5.99 million in additional annual revenue.
The company is incorporating a subsidiary in Mauritius that will purchase and hold bitcoin while potentially supporting expansion into emerging markets.
Amazing AI stated it intends to allocate capital from business operations and future fundraising toward maintaining a treasury of both traditional cash reserves and bitcoin. The company is exploring fundraising opportunities and anticipates beginning bitcoin acquisitions in July 2025.
Paul Mathieson, CEO of Amazing AI, stated that the company plans to leverage borrowed funds against its bitcoin treasury to increase revenue growth in its existing and potential future lending businesses.
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