jiuzi Holdings Teams Up with BitFi to Boost Crypto Treasury
Jiuzi Holdings is making a big move in the crypto world. They’ve teamed up with BitFi to turn its $1 billion crypto treasury into a money-making machine. The company has inked a deal with BitFi, a crypto platform, to tap into its $2.75 billion Bitcoin asset pool.
This partnership marks a significant shift for Jiuzi. Instead of just holding cryptocurrencies passively, it’s now diving into active Bitcoin finance. The move involves staking and arbitrage strategies, which are ways to earn returns on digital assets.
According to a recent press release, Jiuzi will start by investing some capital into BitFi’s multi-chain staking and arbitrage strategies. The goal is to gradually increase this investment over time.
A new joint committee will be set up to create yield products and explore the tokenization of real-world assets. This means turning physical assets into digital tokens that can be traded on blockchain networks.
Jiuzi’s CEO, Li Tao, said, “Partnering with BitFi is a key step in our Web3 infrastructure. We’re combining traditional finance with blockchain innovation to offer unique value to our clients.”
Both companies stress that they will follow all Nasdaq and U.S. securities rules. This shows they’re committed to operating within existing regulations.
This move comes after Jiuzi announced in September that it would allocate $1 billion to a digital asset treasury. The funds will be split among bitcoin, Ether, and BNB. A risk committee, led by CFO Huijie Gao, will oversee the investment policy and compliance.
