707 Cayman Holdings signs a cooperation agreement with Precious Choice Global Limited to establish a cryptocurrency reserve fund including Bitcoin, Binance Coin, and Ethereum.
Both parties commit to exclusive cooperation for the next 12 months to enhance their holdings of major cryptocurrencies, although specific details are still under negotiation.
MAIN CONTENT
707 Cayman Holdings and Precious Choice Global Limited sign an MOU for cooperation in developing a cryptocurrency reserve fund.
The reserve fund will include Bitcoin, Binance Coin, and Ethereum with plans to expand assets within 12 months.
The exclusive cooperation agreement has a term of 1 year, with detailed terms still being negotiated.
How did 707 Cayman Holdings and Precious Choice Global Limited sign the cooperation agreement?
707 Cayman Holdings, a company listed on the US stock exchange, along with Precious Choice Global Limited, has signed a memorandum of understanding (MOU) to establish a cryptocurrency reserve fund. This agreement was signed on August 13, 2024, with the aim of strengthening its position in the cryptocurrency market through accumulating major coins such as Bitcoin, Binance Coin, and Ethereum.
The signing of the MOU demonstrates a commitment to long-term development and strategic exchange between the two entities in the field of cryptocurrency finance. The reserve will help strengthen financial power and take advantage of price increase opportunities in a volatile market.
What cryptocurrencies will the reserve fund include and what are the growth plans?
The established reserve fund will include popular and valuable cryptocurrencies such as Bitcoin, Binance Coin, and Ethereum. The plan of both parties aims for a significant expansion of holdings within the next 12 months. This is a strategic direction in the context of many financial institutions interested in diversifying assets with cryptocurrency.
The plan to increase the cryptocurrency asset holdings is expected to help 707 Cayman Holdings enhance liquidity and effectively exploit market volatility. Focusing on major tokens also ensures that risk levels remain under control and align with current professional investment trends.
How long will the cooperation agreement last and what are its noteworthy points?
The parties agree to an exclusive cooperation agreement for 1 year from the signing of the MOU. This means that 707 Cayman Holdings and Precious Choice Global Limited will closely collaborate with each other on a priority basis, without engaging in similar collaborations with third parties during this period.
However, the detailed terms of the agreement are still being negotiated and have not been publicly announced. Keeping certain points in the contract confidential may be to ensure competitive factors and the strategic information security of the project.
“Establishing a cryptocurrency reserve fund will help the company optimize its investment portfolio while capturing growth opportunities in the digital finance sector.”
Statement from the CEO of 707 Cayman Holdings, August 2024
Frequently Asked Questions
What cryptocurrencies does the reserve fund include?
The fund includes Bitcoin, Binance Coin, and Ethereum, which are the largest in terms of market capitalization and liquidity.
How long will the cooperation period between the two parties last?
The exclusive cooperation agreement is signed for a term of 1 year from the date of signing the MOU.
Have the details of the agreement been fully disclosed?
Currently, the detailed terms are still being negotiated and have not been publicly announced.
What sector does 707 Cayman Holdings operate in?
As a publicly listed company in the US, operating in the financial sector, it is currently expanding its investments in cryptocurrency.
What does the plan to increase cryptocurrency asset holdings mean?
Helps increase liquidity and diversify the investment portfolio, leveraging the volatility of the cryptocurrency market.
Source: https://tintucbitcoin.com/cayman-lap-kho-bac-du-tru-tien-so/
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