Scilex (SCLX) announced that it has signed a non-binding, non-exclusive Memorandum of Understanding with Biconomy.com with respect to future cryptocurrency and treasury management strategies, including in the following areas: (1) Collaborating and leveraging Biconomy’s cryptocurrency exchange platform to provide global cryptocurrency trading services for Scilex’s digital assets, which could potentially excess a billion dollars per cryptocurrency, including Bitcoins, Ethereum, and other major cryptocurrencies, (2) Establishing a cryptocurrency treasury management strategy at Scilex with a balance in security, liquidity, compliance, and yield. (3) Leveraging technology provided by Biconomy.com to deliver to Scilex financial and trade information in order to monetize Scilex’s digital assets. “We are thrilled to be collaborating with Scilex on crypto strategies in order to create long-term value in their digital assets and to accelerate the shift toward a crypto-powered economy,” said Dmitry Sheludko, CEO of Biconomy.com.
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