Freight Technologies (Nasdaq: FRGT) has announced a significant financial maneuver, securing a convertible note facility worth up to $20 million from an institutional investor. The company plans to utilize the initial $1 million tranche to purchase Official Trump Tokens ($TRUMP), further expanding its digital asset strategy.
The investment follows the company's recent $8 million acquisition of FET tokens, demonstrating a calculated approach to building a diverse digital asset portfolio. CEO Javier Selgas positioned this strategic move as aligned with Fr8Tech's broader mission of enhancing U.S.-Mexico commerce through technology-driven trade relationships.
Fr8Tech, a technology company specializing in supply chain optimization, has been leveraging artificial intelligence and machine learning to develop innovative platform solutions. These include Fr8App, Fr8Now, Fr8Fleet, and Waavely, which collectively aim to improve operational efficiency in cross-border shipping and logistics.
The digital asset investment signals a potential shift in how technology-focused logistics companies diversify their financial strategies. By incorporating cryptocurrency and digital tokens into their treasury management, Fr8Tech is positioning itself at the intersection of traditional logistics and emerging digital financial technologies.
This strategic investment could potentially provide Fr8Tech with enhanced financial flexibility, alternative revenue streams, and exposure to emerging digital asset markets. The move reflects a growing trend among technology companies to explore cryptocurrency and blockchain-related investments as part of their broader financial strategies.
