Deep Tide TechFlow news, on August 13, according to Globe Newswire, Nasdaq-listed company 707 Cayman Holdings Limited (Nasdaq stock code: JEM) announced the signing of a memorandum of understanding (MOU) with British Virgin Islands company Precious Choice Global Limited.
According to the memorandum, 707 Cayman will collaborate with Precious Choice to explore the establishment of a cryptocurrency reserve, including but not limited to Bitcoin, BNB, and Ethereum, and plans to significantly expand its holdings within the next 12 months.
The company stated that considering the increased recognition of cryptocurrency in the United States and the latest regulatory developments for virtual asset trading platforms in places like Hong Kong, establishing a cryptocurrency portfolio is expected to reduce cross-border transaction costs, achieve real-time payment confirmation, and decrease reliance on cash.
