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Iveda (IVDA), an AI video and smart city technology company, announced its Board of Directors has authorized the acquisition of cryptocurrency as part of its treasury strategy. The Mesa, Arizona-based company said the decision reflects its approach to capital allocation and asset diversification.
"Adding cryptocurrency to our treasury is another way we’re positioning Iveda for the digital future," said David Ly, founder and CEO, according to the company’s statement. "Rather than simply chasing market trends, we are taking a strategic step to provide our shareholders with another avenue for potential value creation."
The authorization positions Iveda among public companies that have added cryptocurrency to their corporate treasuries. The company said the timing aligns with its expansion of its reseller network and anticipated revenue increases from partnerships.
CFO Bob Brillon stated that the board approval represents "a measured approach allowing us to prepare for digital asset appreciation while maintaining the financial discipline that’s been key to our success at Iveda."
The company has not disclosed specific amounts or types of cryptocurrency it plans to acquire. Iveda operates in cloud-based video AI search and surveillance technologies, with headquarters in Mesa, Arizona, and a subsidiary in Taiwan.
The information is based on a company press release.