1515
Annons
The Board of Directors of Safello Authorizes the Management To Increase Safello's Holdings in Cryptocurrencies

The board of directors of Safello Group AB (the "Company" or "Safello") today, 25 August 2021, resolved to authorize Safello's management to increase the Company's holdings in cryptocurrencies beyond what is strictly necessary from an operational point of view. The mandate allows for up to SEK 10 million to be held in cryptocurrencies. The mandate will be reviewed by the board of directors on a regular basis.

Increasing Safello's exposure to cryptocurrencies will optimize balance sheet liquidity and by extension give Safello's shareholders increased exposure to the asset class. As a cryptocurrency exchange company Safello is well positioned to manage the risk of the added exposure. It is also a showcase of treasury management strategies that are quickly becoming more commonplace in the global cryptocurrency industry and possibly will see wider adoption across  industries in the coming years.

Frank Schuil, CEO, comments:

"The mandate is in line with the Company's long term favourable outlook on cryptocurrencies and will align the Company's interest with our clients. As we move into custody with Safello Wallet, it is also a great way to `dogfood' our products to better tailor to the needs of our customer base."

The exposure to cryptocurrencies on the Company's balance sheet will change from time to time, and in the event that significant changes to the strategy are made, this will be announced through separate press releases.

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This information is information that Safello Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the above contact person's agency, at 15:47 CEST on 25 August 2021.

For more information, please contact:
Frank Schuil, CEO, Safello Group AB
Email: press@safello.com

Certified Adviser
Corpura Fondkommission AB, info@corpura.se,+46 722 52 34 51

Safello is an award-winning cryptocurrency exchange. Safello offers a safe way to buy and sell cryptocurrency in seamless transactions and to a market leading speed. Safello has been regulated at the Swedish Financial Supervisory Authority since 2013.

Source: Cision
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