Scilex Signs MOU With Biconomy To Explore Crypto Trading Services And Treasury Strategy
Benzinga Newsdesk 1 year ago
CryptocurrencyNewsMarkets
Scilex Holding Company ("Scilex" or the "Company") (NASDAQ:SCLX), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of
Scilex Holding Company ("Scilex" or the "Company") (NASDAQ:SCLX), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced that it has signed a non-binding, non-exclusive Memorandum of Understanding (the "MOU") with Biconomy.com ("Biconomy") with respect to future cryptocurrency and treasury management strategies, including in the following areas:
(1) Collaborating and leveraging Biconomy's cryptocurrency exchange platform to provide global cryptocurrency trading services for Scilex's digital assets, which could potentially excess a billion dollars per cryptocurrency, including Bitcoins, Ethereum, and other major cryptocurrencies.
(2) Establishing a cryptocurrency treasury management strategy at Scilex with a balance in security, liquidity, compliance, and yield.
(3) Leveraging technology provided by Biconomy.com to deliver to Scilex financial and trade information in order to monetize Scilex's digital assets.