President Donald Trump-affiliated memecoin, TRUMP, may start receiving institutional attention as a small logistics company in the US plans to hold it as a treasury reserve asset. Freight Technologies Inc. has decided to find a use case for the memecoin within its business cycle.
Freight Logistics and TRUMP Token
The plan is to redirect proceeds from the sale of convertible notes into the purchase of the Trump digital token. According to a Bloomberg report, Freight Logistics intends to kick off with a $1 million offering and possibly scale up to $20 million in the near future.
The announcement to utilize TRUMP as a treasury asset has fueled a surge in the company’s shares.
As of 2:43 p.m. in New York on Friday, the stock had recorded a 108% increase, bringing its market value to $4.6 million. Freight Technologies touts itself as one of the first public companies to make TRUMP “a cornerstone of its digital asset strategy.”
The company had purchased FET tokens from the decentralized artificial intelligence platform Fetch.ai. As of April 29, Freight Technologies claimed it owns about $8 million worth of FET.
US Firms and Crypto Reserve Assets
Recently, several firms have become open to adopting a crypto asset treasury. Strategy and Metaplanet are two companies dedicated to acquiring Bitcoin (BTC) as a reserve asset. On May 1, Michael Saylor announced that Strategy had doubled its capital plan to $42 billion in equity and $42 billion in fixed income to purchase more Bitcoin.
In addition, Strategy announced that it has earned up to 13.7% in BTC Yield and a BTC gain of $5.8 billion year-to-date (YTD). For 2025, Strategy plans to increase its BTC yield target from 15% to 25% and BTC gain target from $10 billion to $15 billion.
Metaplanet is also preparing 3.6 billion JPY, which it plans to use to expand its Bitcoin holdings. Beyond these firms, entities like House of Doge have robust DOGE holdings, and Sol Strategies is also committed to a Solana-first crypto reserve strategy.
The Growing Clamor for National Crypto Reserve
It is worth noting that the Donald Trump administration has been instrumental in the growing demand for crypto offerings in recent times. He has personally invested in structures that promote the rise in crypto adoption. President Trump announced his plan for a crypto strategic reserve with Bitcoin at the center during his campaign.
Senator Cynthia Lummis has been instrumental in this push for a national crypto asset reserve by introducing the Bitcoin Act Bill. Despite the slowdown in the US government’s actual purchase of BTC, the pro-crypto stance has fueled a surge in demand for digital assets.
The post US Firm Freight Technologies To Hold TRUMP as Reserve Asset: Report appeared first on CoinGape.
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