Jiuzi Holdings plans to acquire 10,000 BTC from an investor in a $1 billion stock swap deal.

PANews reported on March 5th that, according to GlobeNewswire, US-listed company Jiuzi Holdings (NASDAQ: JZXN) announced a strategic agreement with a global digital asset investor to acquire 10,000 BTC through equity consideration, a transaction valued at approximately $1 billion, and to establish a long-term partnership. The investor will exchange its BTC holdings for JZXN equity, and the two parties plan to collaborate in areas such as digital asset vault management, cross-border crypto settlement, liquidity management, and participation in crypto infrastructure.

Jiuzi Holdings Inc. (NASDAQ: JZXN) is headquartered in Hangzhou, China. Its initial main business was the integration and operation of new energy vehicle sales channels. Its core model is to sell multi-brand new energy vehicles through franchise and directly operated stores, while providing supporting services such as after-sales service and charging.