Treasure Global (TGL), a publicly traded e-commerce and fintech firm, said it will invest up to $100 million in cryptocurrencies as part of a new capital strategy.

Half the funding comes from an existing equity facility, while the other $50 million stems from an institutional partnership, according to a press release. The company isn't just focusing on just one digital asset, like many other firms are, but said it will buy cryptocurrencies, including bitcoin BTC, ether ETH, and "regulated" stablecoins.

The funds will help back the company's artificial intelligence-powered consumer analytics platform, which is set to debut later this year, the firm said in the press release.

The digital asset treasury move aims to boost balance sheet efficiency and lay the groundwork for future features such as tokenized loyalty programs and crypto-based payments, the firm added.

Various firms have, over the last few months, been moving to adopt cryptocurrencies as treasury assets, building on the momentum set by Strategy, Metaplanet, and others.

These firms include K Wave Media, the first Korean media alliance listed on Nasdaq, which announced plans to raise up to $500 million to fund BTC purchases, as well as Classover Holdings, an education firm that’s looking to make a similar bet on SOL.

Treasure Global currently has a market cap of $4.34 million as stock rose more than 11% on Wednesday.