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Actelis Networks Inc. (ASNS) announced its Board of Directors approved a treasury management strategy that includes allocating corporate funds to cryptocurrencies. The networking solutions company said the board authorized management to invest in digital assets that meet specific criteria.
The approved strategy targets cryptocurrencies ranked within the top 100 by market capitalization, trading on major exchanges, with a minimum market capitalization of $500 million. The company stated this approach aims to provide financial flexibility while pursuing potential long-term capital appreciation opportunities.
"This strategic enhancement to our treasury management is part of our commitment to accelerating long-term value for shareholders through prudent diversification of our balance sheet," said Tuvia Barlev, Chairman and CEO of Actelis. "Following a thorough evaluation of available alternatives and the growing institutional adoption of digital assets, our Board and management team believe that a measured allocation to established cryptocurrencies will contribute positively to our capital deployment plans while maintaining the appropriate risk management protocol."
The company indicated the cryptocurrency strategy complements its focus on networking solutions for Federal/Military, Smart City/Intelligent Transportation, and Multi-Dwelling Unit markets. Actelis stated it intends to implement the strategy while maintaining adequate working capital for operations and continued investment in core business growth initiatives.
Actelis Networks specializes in hybrid fiber-copper, cyber-hardened networking solutions for IoT applications across government, transportation, military, utility, rail, telecom, and campus networks. The information is based on a company press release.