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HONG KONG - MOG Digitech Holdings Limited (1942.HK) has made a strategic investment of $500,000 in ALT5 Sigma Corporation (NASDAQ:ALTS), a $549 million market cap crypto solutions provider, through the subscription of membership interest in a fund, according to a press release issued Wednesday.
The fund participated in ALT5’s recent offering alongside institutional investors and crypto venture capital firms, with World Liberty Financial, Inc. (WFLI) acting as the lead investor.
MOG Digitech, an insurtech provider offering digital currency-based solutions for the insurance industry, previously led a funding round in July for Asia’s stablecoin payment platform "KUN" and processed Asia’s first insurance commission payment using stablecoins in August.
ALT5 Sigma operates two core platforms - ALT5 Pay, a cryptocurrency payment gateway, and ALT5 Prime, an institutional-grade electronic over-the-counter trading platform. The company reports its platforms have processed over $5 million in crypto transactions globally. According to InvestingPro data, ALT5 has demonstrated remarkable growth with revenue surging over 926% in the last twelve months, though the company currently appears fairly valued based on InvestingPro’s Fair Value analysis.
The lead investor, WFLI, is a DeFi protocol platform that issues the USD1 stablecoin, which has been listed on several exchanges.
This investment follows MOG Digitech’s recent activities in the digital currency space as the company continues to expand its presence in the Web3 and decentralized finance sectors.
The press release notes that the collaboration may enhance the integration of digital payments and trading ecosystems, potentially supporting MOG Digitech’s future business expansion in blockchain-based financial solutions.
In other recent news, ALT5 Sigma Corporation announced it has secured approximately $1.5 billion through the issuance and sale of up to 200 million shares of common stock. This funding was achieved via combined registered direct and private placement offerings, with World Liberty Financial, Inc. acting as the lead investor. Additionally, ALT5 Sigma has completed the integration of its ALT5 Prime FIX API with Fundamental Interaction’s trading technology, enhancing access to digital asset markets for broker-dealers and Alternative Trading Systems.
The company also expressed support for the newly signed GENIUS Act, which establishes regulatory guidelines for stablecoin issuance in the United States. CEO Peter Tassiopoulos referred to this legislation as a "turning point" for enterprises operating in this space. In governance developments, ALT5 Sigma reported new compensation terms for its CFO, Jonathan Hugh, including a base salary of $550,000 and a fully vested stock award.
Furthermore, ALT5 Sigma announced that incoming board observer Zak Folkman and incoming Chairman of the Board Zach Witkolf are scheduled to appear on CNBC’s “Squawk Box.” They are expected to discuss the company’s treasury strategy and efforts in institutional-grade cryptocurrency payment solutions. These developments highlight ALT5 Sigma’s ongoing activities in both financial and regulatory landscapes.
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