Publicly traded company 707 Cayman will explore establishing a cryptocurrency treasury reserve, including Bitcoin, Ethereum, etc.

BlockBeats News, August 13th, 707 Cayman Holdings Limited (NASDAQ: JEM), a company registered in the Cayman Islands, is mainly engaged in the sale of high-quality clothing products and provides overall supply chain management solutions. The company announced today that it has signed a Memorandum of Understanding (hereinafter referred to as "MOU") with Precious Choice Global Limited. Precious Choice is a limited liability company registered in the British Virgin Islands.

According to the MOU, 707 Cayman will cooperate with Precious Choice to explore the establishment of a cryptocurrency reserve treasury, including but not limited to Bitcoin, BNB (Binance Coin), Ethereum, etc., and plans to significantly increase holdings in the next 12 months, with specific details still under negotiation.

The company's directors believe that virtual assets and the Web3 field have attracted the attention of global investors and stakeholders. By signing the MOU, the company can explore the Web3 industry, gain a deeper understanding of blockchain technology, and leverage Precious Choice's experience in blockchain to jointly promote the sustainable development of the virtual asset industry.