TechFlow, September 16 — According to GLOBE NEWSWIRE, U.S. insurtech company Reliance Global Group (Nasdaq: RELI) announced that its board of directors has approved a strategic expansion plan into the digital assets and blockchain sector.
The company plans a two-phase acquisition of up to $120 million in cryptocurrencies, with an initial investment of up to $60 million followed by an additional investment of up to $60 million, primarily in major cryptocurrencies such as Bitcoin, Ethereum, and Solana. These investments will be managed by a newly established Cryptocurrency Advisory Board (CAB).
Ezra Beyman, Chairman and CEO of the company, stated that this move aims to enhance shareholder value by building a high-quality digital asset portfolio and exploring tokenization opportunities, positioning the company at the forefront of innovation in both insurtech and blockchain.
