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SHENZHEN/DUBAI - Baiya International Group Inc. (NASDAQ:BIYA), a $11.3 million market cap company whose stock has surged nearly 15% in the past week despite falling 78% year-to-date, announced Thursday that UpTop.Meme, a decentralized finance platform owned by STARFISH TECHNOLOGY-FZE, has launched on Binance Alpha cryptocurrency platform.
The launch comes after BIYA signed a strategic merger framework agreement in July to acquire all equity interests and core assets of Dubai-headquartered Starfish. According to InvestingPro data, BIYA maintains a healthy balance sheet with more cash than debt, though the company currently operates with thin gross profit margins of 11%.
UpTop, a DeFi protocol built on BNB Chain, aims to provide on-chain liquidity infrastructure for both native crypto assets and tokenized traditional financial assets such as U.S. stocks and treasuries.
Alongside the Binance Alpha listing, UpTop is implementing an airdrop campaign and global trading competition designed to increase platform liquidity and promote multi-chain collaboration in DeFi infrastructure.
"UpTop’s launch on Binance represents a strategic milestone in BIYA’s full-scale transition into the DeFi and digital capital markets," said Siyu Yang, Chief Executive Officer of BIYA, according to the company’s press release.
BIYA, which began as a job matching service provider, has evolved into a cloud-based internet platform offering crowdsourcing recruitment and SaaS-enabled HR solutions. The company states that the proposed transaction with Starfish signifies its transformation into a participant focused on Web3, digital assets, and DeFi protocols.
The company claims it will continue to center its strategy around UpTop, with plans to advance multi-chain integration, decentralized autonomous organization governance, and cross-border liquidity for tokenized assets. With the stock showing high price volatility and trading at significant multiples, InvestingPro subscribers have access to 15 additional key insights and extensive financial metrics to better evaluate BIYA’s transformation strategy.
In other recent news, Baiya International Group Inc. has signed a strategic merger framework agreement to acquire Dubai-based Starfish Technology-FZE. This move marks Baiya’s expansion into digital assets and financial technology, including acquiring all equity interests and core assets of Starfish. In a separate announcement, Baiya projected it would generate over RMB 300 million in revenue and more than RMB 25 million in profit by the end of 2025. The company has reported growth in customer numbers and order volume following its Nasdaq listing in March 2025. Additionally, Baiya has partially waived lock-up restrictions on shares held by major stakeholders, allowing for the sale of up to 2,950,000 shares. This decision was facilitated by underwriters Cathay Securities, Inc. and Revere Securities LLC. The waiver permits trading of these shares while maintaining lock-up conditions on the remaining shares. These developments highlight Baiya’s strategic growth initiatives and financial projections.
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