Mei pharma, a clinical-step biotech firm, simply forms an unexpected axis, allocating nine filing to Litcoin as a treasury asset. Giving advice to GSR and on Charlie Lee Board, indicates institutional confidence in the role of Crypto beyond speculation.
Summary
- Mei Pharma becomes the first American-listed public company to adopt LTECOIN as its primary treasury reserve, receiving $ 110.4M in LTC.
- The strategy was developed with GSR and LiteCoin manufacturer Charlie Lee, reflecting a shift over-cheekly use of Crypto in non-satisfactory areas.
- Mei cited the uptime, effectiveness, and comprehensive integration of Litcoin, as the main reasons behind the axis from its pivot to the Crypto Reserve.
On August 4, the NasDaq-listed pharmaceutical company Mei Pharma announced the acquisition of 929,548 LiteCoin (LTC) tokens at an average price of $ 107.58, strengthening $ 110.4 million BET Cryptocurrency as a primary reserve property.
The move directed by Crypto Market Maker GSR and by Litcoin Carily Lee, who joined Mei’s board earlier this year, mark his Treasury strategy in LTC as the first example of anchoring US pub.
Why LiteCoin? Stones behind the crypto pivot of Mei Pharma
Cast for press release, the axis of Mei Pharma for LTC was shaped by three major factors: network revival, transaction effectiveness and adoption of the real world. With a 13 -year uninterrupted uptime, Litcoin lives with a long -lasting blockchain residues without a major network failure, a reliability records may match some protocols.
Combined with Kantinu low fees and fast settlement times, it is a platform that aligns more with treasury stability than speculative promotion.
“Litcoin has a long -embodied sound, scalable and decentralized money,” said Mr. Lee. “By starting this strategy, Mei is taking a clear, institution, for this the role of Litcoin recognizes both a reserved property and an integral part of global financial systems.”
This support is borne by weight. Lee’s involvement suggests that Mei does not have a parking fund only in Crypto, but actively integrating Litcoin in its finance operations. The partnership with GSR, a firm of institutional crypto execution, reflects the serial intentions at the front.
At the same time, Mei emphasized that the Treasury initiative does not indicate a axis away from Biotech. The company stated that it is committed to its drug development pipeline, including a CDK9 inhibitor voruciclib, a CDK9 inhibitor in the pre-nervous review. Future R&D activities are still going on, and the management indicated the plan of the process with investigation research in the coming months.
Nevertheless, the scale of Litcoin allocation is higher than a side experiment. This step coincides with Mei’s planned corporate identity refresh, pointing to wide ambitions. According to a press release, Rebranding may include participation in Litcoin mining. It gives place to Mei in a rare category: a public company that attempts to bridge two areas as separate medical and decentralized finances.
