Amazing AI Plc (AQSE:AAI) has announced plans to begin acquiring bitcoin in July, as part of a revised treasury policy that aims to boost its lending capacity in the United States.
The UK-based fintech group, which specialises in online consumer credit, is in discussions with a major global custodian to manage its bitcoin holdings.
The unnamed partner, which safeguards more than $100 billion in assets for institutional clients across 50 countries, will oversee both purchases and cold storage, mitigating risks associated with holding cryptocurrency on exchanges.
The arrangement would also allow Amazing AI to borrow against its bitcoin holdings, unlocking capital for lending.
The company said a £20 million position in bitcoin could support a £10 million facility, which could then be deployed through its Georgia-based lending business. Based on current rates, that would generate around £6 million in additional annual revenue.
As part of the move, the firm is establishing a wholly owned subsidiary in Mauritius to hold bitcoin and explore potential lending operations in emerging markets.
The group said it will fund bitcoin purchases through a mix of retained profits and fresh capital, and intends to maintain a treasury comprising both digital and traditional reserves.