DigiAsia Corp (NASDAQ: FAAS), a fintech company based in Singapore and focused on Southeast Asia, has revealed ambitious plans to raise up to $100 million to establish a bitcoin ($BTC ) treasury reserve. The move aligns DigiAsia with a growing trend among public companies integrating crypto into their corporate balance sheets.
Following the announcement, DigiAsia’s stock price soared 91% during Monday’s regular trading session, hitting $0.36. However, some of those gains were trimmed in after-hours trading, where the stock declined by 22%. Despite the surge, FAAS remains down over 50% year-to-date.
In a press release, the company stated that its board had approved a strategic shift to allocate as much as 50% of future net profits toward acquiring bitcoin. Additionally, DigiAsia is actively evaluating yield-generating opportunities for its crypto holdings, such as institutional lending and staking with regulated partners.
We believe bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification,” said Prashant Gokarn, Co-CEO of DigiAsia.
The firm is considering a range of financing options to fund the initiative, including convertible notes and crypto-linked financial instruments.
DigiAsia recently reported $101 million in revenue for 2024 and is forecasting $12 million in EBIT this year. While the bitcoin purchases have yet to materialize, the company's announcement alone has already sparked significant interest from investors.
Whether this crypto-forward treasury strategy will lead to sustained investor confidence remains to be seen—but the bold signal from DigiAsia adds another name to the roster of firms leveraging $BTC as a modern financial asset.
