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NEW YORK - StableX Technologies, Inc. (NASDAQ:SBLX), formerly AYRO, Inc., announced Tuesday it has initiated the purchase of FLUID tokens as its first investment under its recently announced strategy to invest in tokens powering the stablecoin industry. The micro-cap company, currently valued at $3.6 million and showing significant volatility with a beta of 3.5, has seen its stock decline over 51% year-to-date according to InvestingPro data.
The company, which plans up to $100 million in purchases of crypto tokens in the stablecoin sector, selected FLUID as its initial investment based on the platform’s growth metrics since its late-2024 launch. InvestingPro analysis indicates the company’s ambitious plans come amid challenging financial conditions, with revenue declining 98% and a WEAK overall financial health score.
"Our first token purchase of FLUID signifies the beginning of an important new chapter for StableX," said James Altucher, StableX’s Digital Treasury Asset Manager.
According to data cited in the company’s statement, FLUID has captured 31% of all stablecoin swap volume, with particularly strong positions in USDe and GHO swaps, where it holds market shares of 55% and 67%, respectively. The platform reportedly generates $5.37 million in monthly fees.
StableX noted that FLUID plans to begin using all of its revenue to buy back tokens starting October 1, which the company believes could impact token price growth.
The FLUID platform, backed by investors including Coinbase Ventures and Pantera Capital, has seen its user base increase by 80% in the past month, according to the company’s press release statement.
StableX Technologies rebranded from AYRO, Inc. and has shifted its business focus to the acquisition and development of stablecoin assets and related technologies. For investors following this strategic pivot, InvestingPro offers 16 additional investment tips and comprehensive financial analysis to help evaluate the company’s transformation potential.
In other recent news, AYRO, Inc. has made significant amendments to its stock structure by creating a new Series I Convertible Preferred Stock. The company agreed to sell 7,000 shares of this new series to accredited investors, convertible into up to 875,000 shares of common stock at a conversion price of $8.00 per share. Additionally, AYRO announced a $100 million investment strategy in stablecoin-related crypto tokens, with James Altucher appointed as the Digital Treasury Asset Manager to lead this initiative. Furthermore, the board of AYRO declared a dividend of preferred share purchase rights, set to be distributed to shareholders on August 11, 2025. Diveroli Investment Group has also acquired a 9.9% stake in AYRO, aligning with the company’s strategic shift towards digital assets and stablecoin technology. Meanwhile, StableX Technologies, Inc. saw the resignation of board director George Devlin, who received a one-time payment of $35,437.50 as compensation. These developments reflect recent strategic and structural changes within both AYRO and StableX Technologies.
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