Lion Group Holding, a trading platform based in Singapore and listed on Nasdaq, plans to invest more than half a billion USD to develop a cryptocurrency treasury centered around Hyperliquid (HYPE) tokens. The transaction, which the ATW Partners financed, reflects increased attraction to other digital currencies than Bitcoin.
Lion Group Aims to Develop the Biggest HYPE Treasury in the World
HYPE will become the primary reserve cryptocurrency owned by the company, in addition to Solana (SOL) and Sui (SUI) tokens. It will be under the custody of BitGo, a reputable digital asset custody holder. As part of its objectives, Lion Group wants to own the largest HYPE treasury in the world.
According to the CEO of Lion Group, Wilson Wang, Hyperliquid complements their current business venture of derivative trading. He is sure that the finance industry will be changed by decentralized platforms that allows trades on blockchain and one of them will be HYPE.
Solana is associated with secure and easy to use crypto applications whilst Sui has captured interest recently after a joint venture with World Liberty Financial which has substantial investment from Eric Trump. These decisions indicate the fact that Lion Group is oriented to innovative blockchain technologies. The company plans to make $10.6 million in HYPE purchase in the coming days.
This announcement comes as other Nasdaq-listed companies, like Eyenovia, also explore Hyperliquid treasuries. Experts see this as a sign that big investors are embracing altcoins, or alternative cryptocurrencies.
Lion Group’s Leap into DeFi Indicates Institutional Shift Toward Blockchain Integration
Max Giege from Merenti Capital praised HYPE for its efficient, fully on-chain trading model. He believes it’s well-positioned to grow, benefiting companies like Lion Group. The trend isn’t limited to finance firms. For example, fitness equipment maker Interactive Strength raised $500 million to invest in Fetch.ai tokens.
Lion Group also plans to expand its global reach by listing on the Tokyo and Singapore stock exchanges. This would be the first HYPE treasury listed in Asia, driving more investors.
Mike Belshe, the CEO of BitGo, confirmed that BitGo would take part in secure asset storage and asset trading services to Lion Group. He believes this is a sign that the institutional investors are exploring new blockchain ecosystems.
Although Lion Group is thrilled at its crypto strategy, the company warns that its performance in the future may not be as projected. This move into DeFi may affect how other companies treat digital assets.
This could influence more businesses to consider using the technology leading to increased adoption of cryptocurrencies. HYPE trades at $36.97, down 7.91% in the last day.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
He can be reached via [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: