Swedish digital commerce company Refine Group establishes digital asset business and implements Bitcoin reserve strategy

PANews reported on July 16 that Swedish digital commerce company Refine Group announced the establishment of a digital asset business and implemented a Bitcoin reserve strategy to include Bitcoin in its balance sheet. To support its initial investment and strengthen its financial position, the company raised 10 million Swedish kronor through a private placement, which diluted its equity by about 45%. The largest investor, João Caldas, became a new shareholder and plans to nominate him as a member of the board of directors. The CEO said that Bitcoin's scarcity and liquidity will help the company innovate and collaborate.