The carpool and ride-sharing platform, which already accepts Bitcoin for customer payment, moves to crypto treasury despite challenges of price declines.
Ryde Group, a Singapore-based ride-sharing and carpool platform, similar to Uber or Lyft, said on Wednesday that it has adopted a crypto treasury strategy for its corporate reserve.
The company said it will invest a portion of its corporate reserves in Bitcoin (BTC), Ether (ETH), and Solana (SOL), with specific allocations and purchase timing to be determined by Ryde's governance team, according to its announcement.
Ryde cited the “evolving macroeconomic environment” as the reason for adopting a crypto treasury and said that the option to invest portions of its treasury in digital assets gives the company greater flexibility in managing its treasury operations.
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