Jiuzi New Energy completed a private placement with 100 bitcoins to advance its cryptocurrency asset strategy

ChainCatcher news, according to PR Newswire, Nasdaq-listed Zhejiang Jiuzhi New Energy Vehicle Co., Ltd. (referred to as Jiuzhi New Energy) (NASDAQ: JZXN) disclosed a crypto-priced private placement settled in 100 Bitcoins.

The funds will be used to build a digital asset custody platform and develop crypto storage technology, focusing on secure multi-party computation and zero-knowledge proofs. The company stated that it entered the implementation phase after signing the agreement on October 7, and JZXN's stock price has risen above the closing price before the announcement since the framework disclosure.

JZXN mainly operates high-power DC fast charging and energy storage in third- and fourth-tier cities, and will promote the "Smart Energy Cloud Platform" and cross-border digital payment research and testing.