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LONDON - Panther Metals PLC (LSE:PALM) announced Monday it is developing a framework that would allow bitcoin holders to exchange their digital assets for equity in the company.
The Main Market-listed firm said it has received "unsolicited approaches" from bitcoin holders seeking to convert their cryptocurrency into publicly traded shares. In response, Panther is working with legal, regulatory, and financial service providers to establish a compliant mechanism for these exchanges.
"Our goal is to create a mechanism that not only meets the highest regulatory standards but also enhances value for our shareholders by expanding the scale and speed of our treasury growth," the company stated in a press release.
Panther Metals, which is registered in the Isle of Man, indicated that its jurisdictional position and London Stock Exchange (LON:LSEG) listing provide it with unique capabilities to facilitate such transactions.
The company believes this initiative could accelerate the expansion of its bitcoin treasury holdings and broaden its investor base through alignment with digital asset holders.
No specific timeline was provided for implementation of the framework, with the company noting that further updates will be shared "in due course" as the initiative progresses through appropriate channels.
The announcement represents an expansion of Panther’s previously established bitcoin treasury strategy, though specific details about the company’s current cryptocurrency holdings were not disclosed in the statement.
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