GSR has introduced $100 million non-public funding and a brand new strategic partnership in MEI Pharma (NASDAQ: MEIP). As a part of the settlement, GSR will function a strategic advisor and can handle MEI’s Ministry of Digital Property Treasury. The transfer factors to a brand new path for MEIs that plans to undertake Litecoin (LTC) as their core monetary belongings.
Litecoin creator Charlie Lee and GSR representatives can be becoming a member of Mei’s board of administrators. The Litecoin Basis helps the initiative. This improvement follows earlier evaluations on strategic options for MEI, indicating the shift in direction of a digital asset-focused enterprise mannequin.
GSR helps MEI handle Litecoin Holdings and help the corporate’s operations throughout the digital asset area. The partnership is designed to attach the open market with crypto methods, and MEI’s management is working to regulate the objectives and new instructions of each the GSR and Litecoin Basis.
This funding additionally contains participation from a number of crypto-centric funding firms and infrastructure suppliers. Supporting different blockchain tasks, together with these from Polygon Community, GSR continues to offer liquidity and advisory companies all through the digital asset business.
Picture: Freepik
