Asian food giant DDC Enterprise has announced a partnership with Hong Kong-based web3 game developer and venture firm Animoca Brands. This collaboration aims to bolster DDC’s recently launched bitcoin treasury through a non-binding memorandum of understanding.
Under the agreement, Animoca Brands will provide DDC Enterprise with up to $100 million in Bitcoin (BTC) to support the growth of DDC’s yield enhancement strategies. Further solidifying the partnership, Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, will join DDC’s newly formed Bitcoin Visionary Council, offering his expertise on the Asian food giant’s bitcoin treasury strategy.
Norma Chu, Founder, CEO, and Chairwoman of DDC Enterprise, expressed enthusiasm for the alliance. “This partnership with Animoca Brands marks a transformative step for DDC and reflects our shared vision to accelerate Bitcoin’s role as a pristine monetary asset,” Chu stated. She added that Siu’s addition to the Bitcoin Visionary Council will bring “exceptional industry experience and network value that will strengthen our strategic direction and help guide our treasury and Bitcoin ecosystem initiatives.”
Yat Siu echoed this sentiment, noting, “Our partnership with DDC enables Animoca Brands to enhance the value of our blockchain technologies and maximize the value of our Bitcoin holdings.” He emphasized that the focus will be on developing strategies to enhance Bitcoin’s value proposition, leveraging DDC’s commitment to advancing corporate Bitcoin treasury solutions.
DDC Enterprise has been actively expanding its bitcoin treasury, having previously secured capital commitments of up to $528 million for this purpose. As of July 7, the company held 368 BTC, valued at approximately $43.3 million at current prices. This represents a notable 48.3% BTC yield increase compared to the firm’s mid-June purchase, according to a company release.
The news comes as Bitcoin continues its strong performance, trading around $117,600 at the time of publication, having briefly touched an all-time high of $119,000 earlier today. The world’s leading cryptocurrency by market capitalization generated $82 billion in trading volume within the past 24 hours.
