Freight Technologies (Nasdaq: FRGT) has secured a convertible note agreement for up to $20 million with an institutional investor, signaling a strategic expansion into digital assets. The company will use the initial $1 million tranche to purchase Official Trump Tokens ($TRUMP), complementing its recent $8 million investment in FET tokens.
CEO Javier Selgas positioned this move as consistent with the company's mission to enhance U.S.-Mexico commerce through technology-driven trade relationships. The investment reflects a growing trend of technology companies diversifying their treasury holdings with digital assets.
Fr8Tech, known for its AI-powered supply chain solutions, continues to demonstrate innovative approaches to financial management. The company's portfolio includes platforms like Fr8App, Fr8Now, Fr8Fleet, and Waavely, which focus on optimizing cross-border shipping and logistics operations.
This strategic investment in cryptocurrency represents a significant pivot for a logistics technology firm, potentially signaling broader industry interest in digital asset integration. By acquiring Trump Tokens, Fr8Tech is positioning itself at the intersection of technology, finance, and emerging digital markets.
