Standard Supply changes name to 'StandardCoin'... First investment of ₩6.7 billion in Bitcoin
Summary
- Standard Supply announced it has changed its name to StandardCoin and has begun accumulating Bitcoin.
- The company stated it made its first investment of approximately ₩6.7 billion in Bitcoin.
- It has announced plans to provide investors with an indirect opportunity to invest in Bitcoin through this strategic shift.
Norwegian listed company Standard Supply AS has changed its name to 'StandardCoin AS' and started accumulating Bitcoin (BTC).
According to Euronext.com on the 20th (local time), Standard Supply announced that it has changed its name to StandardCoin and invested NOK 50 million (approximately ₩6.7 billion) in Bitcoin. Previously, the company had stated its plan to provide investors with an opportunity to invest indirectly in Bitcoin through this strategic shift.
Eldar Paulsrud, CEO of StandardCoin, said, "We have entered the Bitcoin market with our first carefully planned investment," adding, "We will establish ourselves as responsible investors in the digital asset ecosystem by prioritizing security and risk management, working with trusted partners."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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