In This Article:
NewGen has deployed US$1 million to execute the purchase of its carefully planned digital asset portfolio
The company aims to take advantage of positive trends in the crypto landscape by executing a well-crafted strategic investment plan
BANGKOK, Dec. 19, 2024 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”) today announced that it has engaged OSL Digital Securities (“OSL”), a leading regulated digital asset platform in Hong Kong, as part of NewGen’s intent to begin investing in the digital assets space. Following the engagement, NewGen has transferred funds in the amount of US$1 million to its account. These funds will serve as a pilot tranche to carry out the Company’s mandate of establishing its digital asset portfolio.
NewGen’s portfolio will be comprised of a variety of digital assets designed to effectively hedge risks while taking advantage of recent positive trends in the cryptocurrency environment. The majority of the portfolio will consist of a combination of two large-cap cryptocurrencies, Bitcoin and Ethereum, which together will account for 55% of the portfolio. Another 10% of the allocation will be devoted to the stablecoin Tether, with the remaining 35% spread across several mid- and small-cap cryptocurrencies which, while more volatile, hold potential for a greater return on investment.
Mr. Siu Wing Fung Alfred, Founder, Chairman, and CEO of NewGen, commented, “We are excited to announce the pursuit of this new strategic approach as we seek to provide value to our shareholders and bolster the financial stability of our company. The cryptocurrency market has evolved significantly over the past several years, with increased institutional adoption and growing recognition from governmental bodies worldwide demonstrating its maturation as an asset class. Our strategic US$1 million investment represents a measured entry into digital assets, carefully structured across established cryptocurrencies and stablecoins to optimize potential returns while managing risk exposure. This initiative aligns with our commitment to diversifying revenue streams through well-researched opportunities, and we have developed a comprehensive framework to guide our approach to digital asset investment. We chose OSL as the custodian of the project based on their ability to offer compliant and secure options for digital assets management, and we are confident their involvement will bolster the stability and security of our plan as we pursue this new strategy.”
About NewGen
NewGen is a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments. With a mission to aid couples and individuals in building families regardless of fertility challenges, NewGen has dedicated itself to creating increased access to infertility treatment and providing comprehensive fertility services for its customers. NewGen’s management team collectively has over a decade of experience in the fertility industry. NewGen’s clinics are located in Thailand, Cambodia, and Kyrgyzstan, and present a full suite of services for its patients, including comprehensive infertility and assisted reproductive technology treatments, egg and sperm donation, and surrogacy, in the appropriate jurisdictions, respectively. To learn more, visit www.newgenivf.com. The information contained on, or accessible through, NewGen’s website is not incorporated by reference into this press release, and you should not consider it a part of this press release.