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US Nature's Miracle Company announces a treasury strategy worth 3 billion yen in XRP.
Nature's Miracle Holdings, which specializes in vertical farming technology listed on the U.S. OTC market, announced on July 23 a treasury program for XRP worth up to $20 million (approximately 3 billion yen). Following this move, the company's stock price surged more than twice compared to the previous day.
The company will utilize the proceeds from its stock fundraising based on the SEC-approved S-1 registration statement to purchase the cryptocurrency XRP.
The core of the financial strategy is to hold XRP as a long-term strategic asset and to generate revenue through staking functions. Furthermore, the policy is to broaden the scope of business development by actively participating in the Ripple ecosystem.
The company's CEO, James Lee, emphasized that XRP has great potential for improving the speed of international remittances and reducing costs. He also mentioned that major financial institutions such as Banco Santander and American Express are already utilizing XRP, and he is confident that this move will lead to shareholder benefits.
Nature's Miracle is a small-scale company with a market capitalization of $910,000, operating as an agricultural technology company that provides products and services to the Controlled Environment Agriculture (CEA) industry in the United States. With the introduction of XRP, it aims to implement a strategic shift towards expanding its business into the intersection of traditional agricultural technology and financial technology.
Related: How to buy XRP (XRP) | Investment benefits and key points beginners should know, choosing the best exchange.