Zcash conquers a Nasdaq company

Source: Criptonoticias Original Title: Zcash conquers a Nasdaq company Original Link: https://www.criptonoticias.com/mercados/zcash-conquista-empresa-nasdaq/ Reliance Global Group, a company listed on Nasdaq under the ticker RELI, has announced a radical change in its corporate and treasury strategy, now focusing on the cryptocurrency zcash (ZEC).

RELI reported that it has increased its investments in this privacy-focused asset as part of its plan to establish a digital asset strategy based entirely on ZEC.

From Reliance, they indicated that the architecture of Zcash, based on a security model similar to that of Bitcoin and reinforced with optional privacy and selective disclosure, distinguishes it from the rest of the ecosystem.

Its transaction framework allows for transparency when needed while simultaneously enabling confidential operations, a combination that meets current regulatory and institutional demands.

Moshe Fishman, director of Insurtech at Reliance and member of the company's Cryptocurrency Advisory Board, explained: “We are investing additional cash in our position in zcash because ongoing analysis supports the decision to maintain ZEC as our primary exposure to digital assets within the treasury strategy.”

The company's interest in ZEC is also explained by the great performance that the asset is showing. In the last 12 months, the cryptocurrency has recorded an 800% increase.

At the time of publishing this note, zcash is trading above 500 dollars:

ZEC is trading above 500 dollars.

Reliance is not the only company incorporating zcash into its treasury. Leap Therapeutics —now called Cypherpunk Technologies— completely changed its strategy and started buying ZEC.

The firm allocated 50 million dollars to acquire more than 203,000 coins and aims to gather 5% of the total supply of ZEC. To finance this plan, the company will use a treasury scheme based on the issuance of equity and debt.