Treasury Management International Transacts In Crypto

Treasury Management International (TMI), a publishing group serving corporate treasurers, announced it has received payment in bitcoin as part of a project involving research related to cryptocurrency assets, according to a press release.

TMI executed the transaction in connection with Diginex and used Diginex’s Digivault product to received and hold the bitcoin. The transaction was “part of a wider study into the practical applications of crypto assets for corporate treasurers,” the release stated.

“We are excited to be working with Diginex to explore the benefits and opportunities for treasurers to diversify their armoury of investment and payment instruments,” TMI CEO Robin Page said in the release. “And how better to gain insight into the real-world experience of crypto assets than by accepting them ourselves? We chose Diginex, a Nasdaq-listed company, to partner with as a reflection of dedication to fair and transparent markets as well as institutional grade infrastructure.”

Diginex CEO Richard Byworth said in the release: “Given the continuing adoption by many large companies such as Tesla and MicroStrategy of bitcoin as a treasury asset, corporate treasurers in [Europe, the Middle East and Africa (EMEA)] and Asia are trying to grapple with the value proposition of bitcoin as a treasury asset. Diginex caters specifically to institutions who demand a robust and secure platform with regulatory oversight.”

Matt Blom, head of Sales Trading and Corporate Solutions at Diginex, said in the release: “As corporate treasurers begin to understand the potential of the asset class, they will look not only at the fundamental drivers of price but also the technical implementation.”

Executives at many large and mid-sized companies increasingly are considering whether bitcoin or other cryptocurrencies are legitimate alternative assets to hold, PYMNTS reported.

For smaller businesses, experts say figuring out how to accept and process crypto assets will likely become increasingly important not to accumulate assets, but to maintain adequate working capital.