Swedish listed company Fragbite Group establishes a Bitcoin fund business division and completes $480,000 financing

ChainCatcher news, according to MarketScreener, Fragbite Group announced the completion of a 5 million Swedish Krona (approximately 480,000 USD) interest-free loan financing for the newly established Bitcoin fund management department. The loan can be converted into company shares at a conversion price of 10 Swedish Krona per share, to be completed no later than November 30, 2028.

The company's CEO stated that this financing will provide initial liquidity for the Bitcoin fund management business, aiming to optimize the capital structure through Bitcoin. This business will invest the group's surplus funds in Bitcoin and will introduce a new "Bitcoin/Stock" key metric in the quarterly reports.