New York, USA – Novabai, a pharmaceutical company, announced a radical shift in its business after its stock plummeted 95% this year.
As a result, the company is moving into the cryptocurrency sector in one of
the most significant restructurings in the financial markets.
Strategic shift towards blockchain
The company explained that it has rebranded itself as a blockchain-based investment entity.
This transformation followed a $134 million funding round with prominent investors, including Tether.
As a result, it has become a holding company specializing in digital assets.
Huge investments in stable currencies
According to French media reports, the company focused its investments on purchasing the Sky digital currency,
accumulating over 2 billion units.
This represents approximately 8.8% of the total supply, with reserves estimated at around $150 million.
It also aims to generate returns from decentralized finance (DeFi) protocols.
A new model for traditional finance
The new model relies on deploying liquidity in smart contracts that offer annual returns exceeding 10%.
This reflects the trend among traditional companies to leverage decentralized finance tools through regulated markets.
The company’s stock rose by 19% following the announcement of the shift,
despite it being considered a rescue measure, according to the Journal du Coin.
