SunCar Technology plans to invest up to $10M in select cryptocurrencies

SunCar Technology (SDA) announced that its board of directors has authorized the company to invest up to $10M in select major cryptocurrencies that are expected to benefit from the rapid growth of real world asset tokenization, or RWA. “Our investment in the leading RWA-focused cryptocurrencies is part of our new capital allocation strategy, which seeks to leverage our strategic plan to develop a blockchain and tokenized RWA platform and to maximize long-term value for our shareholders,” said SunCar CEO Zaichang Ye. “Beyond blockchain and RWA’s strategic benefits to our customers, this investment reflects our belief that RWA tokenization, one of the most exciting new emerging technologies, is an attractive investment opportunity with more long-term appreciation potential than holding cash.” The company expects to provide updates on its cryptocurrency holdings through its regular press releases and SEC filings and will comply with all applicable disclosure requirements regarding these investments.