StableX makes first token purchase in stablecoin industry strategy

StableX Technologies, Inc. (NASDAQ: SBLX) announced it purchased FLUID tokens, marking its first acquisition in a strategy to invest in tokens that support the stablecoin industry. The company, formerly known as AYRO, Inc., plans to make up to $100 million in purchases of crypto tokens in this sector.

James Altucher, StableX's Digital Treasury Asset Manager, said the FLUID purchase represents the beginning of the company's new investment approach. He noted that FLUID will begin using all revenue for token buybacks starting October 1, 2025.

According to the company, FLUID launched in late 2024 and has captured 31% of all stablecoin swap volume. The platform holds 55% and 67% market shares in USDe and GHO swaps, respectively. FLUID generates $5.37 million in monthly fees and has seen its user base grow 80% in the past month. The platform maintains a market cap to TVL ratio of 0.3.

FLUID has backing from investors including Coinbase Ventures and Pantera Capital. StableX positions the platform as a leader in stablecoin trading within the decentralized finance sector.

StableX Technologies focuses on acquiring and developing stablecoin assets, infrastructure and related technologies. The company aims to generate returns by capitalizing on stablecoins' expanding role in global commerce and finance.

The information is based on a press release from StableX Technologies, Inc.

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