Reliance Global Group to invest up to $120 million in cryptocurrencies

LAKEWOOD, NJ - Reliance Global Group, Inc. (NASDAQ:RELI), a micro-cap company with a market value of $3.51 million and current trading price of $0.79, announced Monday its board of directors has approved a strategic expansion into digital assets and blockchain technology, with plans to purchase up to $120 million in cryptocurrencies including Bitcoin, Ethereum, and Solana. According to InvestingPro data, the company has been experiencing significant cash burn and maintains weak financial health metrics.

The company will implement its digital asset treasury strategy in two phases, with an initial investment of up to $60 million followed by a potential additional $60 million, according to a press release statement. The investments will be managed by Reliance’s newly formed Crypto Advisory Board (CAB), subject to market conditions. With annual revenue of $14.06 million and an EBITDA of -$3.81 million in the last twelve months, this represents a significant commitment relative to the company’s current financial position.

Reliance, which operates in the insurance and financial technology sectors, intends to leverage its experience with its AI-driven RELI Exchange platform to explore opportunities for tokenizing insurance-linked assets.

"Reliance has always been committed to staying at the forefront of technology-driven innovation. Our planned entry into cryptocurrency and blockchain-based insurance-linked assets marks another important step in this journey," said Ezra Beyman, Chairman and CEO of Reliance Global Group.

The company believes this initiative could create a new investment class by bringing greater transparency, liquidity, and efficiency to the insurance-linked marketplace.

Reliance Global Group’s core business includes its RELI Exchange, a B2B InsurTech platform that combines agency networking with technology built on AI and data mining capabilities developed through its 5MinuteInsure.com service. For detailed analysis of RELI’s financial health and growth prospects, including 13 additional key ProTips and comprehensive valuation metrics, visit InvestingPro, where you’ll find expert insights and in-depth research reports.

The board has established the Crypto Advisory Board to manage and oversee the development of the company’s digital asset strategy and related initiatives.

In other recent news, Reliance Global Group Inc. reported a challenging second quarter of 2025, with a net loss widening to $2.7 million from $1.5 million in the same period last year. The company is focusing on strategic initiatives such as debt reduction and product innovation, though it faces increased expenses and competitive pressures. Additionally, Reliance Global Group has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, allowing it to offer and sell up to $2,026,453 of its common stock. This move is part of its strategy to raise capital, with sales to be conducted through various market venues.

In another development, Reliance Global Group has launched a new Client Service Center for its RELI Exchange InsurTech platform. This enhancement aims to allow independent insurance agents to concentrate on acquiring new business while the RELI Exchange team manages client service requests. Meanwhile, JPMorgan has reiterated its Overweight rating on Reliance Industries, maintaining a price target of INR1,695.00. A key announcement from the company’s recent annual meeting was the plan to list its telecom business, Reliance Jio, by June 2026.

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