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Kaya Holdings, Inc. (KAYS) announced it has engaged Greentree Financial Group and Conduit Advisors to assist with developing a cryptocurrency operating subsidiary and implementing a Digital Assets Treasury strategy.
The company plans to enter the cryptocurrency industry through various channels, including establishing licensed cryptocurrency custody and trading services in the United States, Grand Cayman, and other jurisdictions. KAYS also intends to work with cryptocurrency foundations, for-profit companies, and Decentralized Autonomous Organizations.
The company aims to leverage its public company status and connections to Grand Cayman, which has developed specific legislation such as the Virtual Asset (Service Providers) Act to address the cryptocurrency industry.
Greentree Financial Group, founded in 1999, is a family office that has been involved in cryptocurrency treasury deals as both an investor and financial advisor. The firm has worked with registered broker-dealers and investment banking firms that have provided investment capital to companies building cryptocurrency treasuries.
Thomas Gaffney, founder of Conduit Advisors, has experience in cryptocurrency treasury initiatives as a corporate attorney and capital markets strategist. Conduit provides services in the digital asset sector and has worked with various cryptocurrency groups for public company clients.
KAYS has worked with L&L CPAs, an entity associated with Greentree, since 2014 for accounting and CFO services.
The implementation of KAYS’ proposed Digital Assets Strategy depends on several factors, including restructuring the company’s existing debt and capital structure, identifying and negotiating digital asset acquisitions, and securing financing. The company stated there can be no assurance it will successfully develop and implement its proposed cryptocurrency operations.
Kaya Holdings is a holding company with historical operations in cannabis and biofuels, trading on the OTCQB market under the symbol KAYS.