707 Cayman Holdings Limited (NASDAQ:JEM) stock jumped 26% following the company’s announcement that it has entered a memorandum of understanding to explore the creation of a cryptocurrency treasury reserve.
The Cayman Islands-based apparel firm signed the MOU with Precious Choice Global Limited, a British Virgin Islands corporation, to evaluate holding digital assets such as Bitcoin, Binance Coin, and Ethereum. The company said it plans to “significantly scale holdings over the next 12 months,” although specific details are still being finalized.
The agreement includes a one-year exclusivity clause, preventing either party from pursuing similar deals with other potential partners during this period.
707 Cayman’s core operations focus on apparel sales and supply chain management. This move into digital assets signals a potential diversification of its treasury management strategy.
707 Cayman Holdings stock price
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