Quick take:
MEI Pharma joins a growing list of mainstream companies targeting alternative cryptocurrencies to Bitcoin for their digital asset treasuries.
The move is developed in partnership with crypto VC firm, GSR, and with guidance provided by Litecoin Creator and MEI Board member Charlie Lee.
MEI plans to update its corporate identity in the weeks to come, reflecting its expanded strategy built on digital asset infrastructure and long-term capital innovation.
Mei Pharma, Inc. (NASDAQ: MEIP) has announced the acquisition of 929,548 Litecoin (LTC) tokens at an average price of $107.58, launching its strategic digital asset treasury with $110 million in LTC.
According to the press release seen by NFTgators on Tuesday, the move is developed in partnership with crypto VC firm, GSR, and with guidance provided by Litecoin Creator and MEI Board member Charlie Lee.
MEI Pharma joins a growing list of mainstream companies targeting alternative cryptocurrencies to Bitcoin for their digital asset treasuries. The Nasdaq-listed biotechnology company plans to update its corporate identity in the weeks to come, reflecting its expanded strategy built on digital asset infrastructure and long-term capital innovation.
“Litecoin has long embodied sound, scalable, and decentralized money,” said Mr. Lee. “By initiating this strategy, MEI is taking a clear, institutional step forward that recognizes Litecoin’s role as both a reserve asset and an integral part of global financial systems.”
Joshua Riezman, U.S. Chief Strategy Officer, GSR, commented: “We’re proud to support MEI’s innovative Litecoin treasury initiative. Chief Strategy Officer, GSR. “This model sets a new institutional standard for integrating digital assets into the financial operations of public companies.”
The company identified three major strengths of picking Litecoin as the anchor for its digital asset treasury, including “scalability”, which it argues has helped the cryptocurrency maintain uptime for 13 years, uninterrupted, as well as the operational efficiency derived from low fees and fast settlements.
Litecoin has also been integrated with leading payment providers, including BitPay, Robinhood, PayPal, and Venmo, thus promoting broad-based adoption, MEI argues.
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The post MEI Pharma Kicks Off Its Litecoin-Focused Digital Asset Treasury with $110M Purchase appeared first on NFTgators .
