Gold prices steady ahead of Fed decision; weekly weakness noted
Marti Technologies Inc. (NYSE American: MRT) announced it will implement a corporate treasury strategy that includes holding crypto assets as part of its cash reserve management approach, according to a company statement.
The Turkey-based mobility app company plans to initially allocate approximately 20% of its cash reserves to Bitcoin. The company retains the option to increase crypto holdings to 50% of cash reserves and may purchase additional digital assets including Ethereum and Solana.
The digital assets will be held through a regulated, institutional-grade custodian in compliance with applicable laws and industry security practices. Marti stated the crypto assets are viewed as potential long-term stores of value and a hedge against systemic financial risk.
"Our decision to allocate capital to crypto assets acknowledges our belief that Bitcoin and other digital assets have proven their ability to store value alongside hard currencies and gold over the last several years," said Oguz Alper Oktem, founder and chief executive officer of Marti.
The company indicated it intends to hold the crypto assets long-term and add to positions over time. Marti stated the strategy is not expected to impact current business operations or execution of existing business plans.
Founded in 2018, Marti operates ride-hailing services and maintains fleets of rental e-mopeds, e-bikes, and e-scooters in Turkey. The company will disclose material digital asset acquisitions in future announcements as required by applicable laws.