Reliance Global Group, a company listed on the Nasdaq with the ticker RELI, has announced a radical change in its corporate and treasury strategy, now focusing on the cryptocurrency zcash (ZEC).
Yesterday, November 26, RELI reported that it increased its investments in this asset focused on privacy as part of its plan to form a digital asset strategy based entirely on ZEC.
From Reliance, they indicated that Zcash’s architecture, based on a security model similar to that of Bitcoin and reinforced with optional privacy and selective disclosure, distinguishes it from the rest of the ecosystem.
Its transaction scheme allows it to offer transparency when necessary and, at the same time, enable confidential operations, a combination that adapts to current regulatory and institutional requirements.
Moshe Fishman, Head of Insurtech at Reliance and member of the company’s Cryptocurrency Advisory Board, explained: “We invested additional cash into our zcash position because our ongoing analysis supports our decision to maintain ZEC as our primary digital asset exposure within our treasury strategy.”
The company’s interest in ZEC also It is explained by the great performance that the asset is showing. In the last 12 months, the cryptocurrency registers a rise of 800%.
At the time of publication of this note, zcash trades above $500:
Reliance is not the only company that is adding zcash to its treasury. As CriptoNoticias has reported, Leap Therapeutics – now called Cypherpunk Technologies – made a complete change in its strategy and began buying ZEC.
The firm allocated 50 million dollars to acquire more than 203,000 coins and aims to gather 5% of total ZEC supply. To finance this plan, the company will use a treasury scheme based on the issuance of shares and debt.