Jiuzixineng completes private placement with 100 bitcoins to advance crypto asset strategy

ChainCatcher News, according to PR Newswire, Nasdaq-listed Zhejiang Jiuzi New Energy Vehicles Co., Ltd. (referred to as Jiuzi New Energy) (NASDAQ: JZXN) disclosed a crypto-denominated private placement settled with 100 Bitcoin.

The funds will be used to build a digital asset custody platform and for research and development of crypto storage technology, with a focus on secure multi-party computation and zero-knowledge proofs. The company stated that after signing the agreement on October 7, it has entered the implementation phase. JZXN's stock price has risen and remains above the pre-announcement closing price since the framework was disclosed.

JZXN mainly operates high-power DC fast charging and energy storage in third- and fourth-tier cities, and will promote the development and testing of the “Smart Energy Cloud Platform” and cross-border digital payments.