Baiya International Group Inc. Expands into Web3 with Acquisition
Baiya International Group Inc. Expands into Web3 with Strategic Acquisition
Baiya International Group Inc. (“BIYA” or the “Company”) (Nasdaq: BIYA) has made headlines by signing a significant merger framework agreement with a technology company in Dubai named STARFISH TECHNOLOGY-FZE. This landmark move signals BIYA's transition towards a focus on digital assets and financial technology, marking its entry into what is known as the "Web3 New Era" of global capital markets.
Details of the Strategic Acquisition
The agreement includes the acquisition of Starfish's UpTop.Meme platform, which is recognized as a decentralized liquidity protocol built on the BNB Chain. This acquisition not only encompasses all associated intellectual property but also operational rights and the specialized technical team behind the platform. BIYA intends to integrate its own core team into the mix, enhancing the platform’s technological capabilities and operational reach. The Company projects that this merger could augment its profits by approximately $15 million.
Understanding UpTop.Meme
UpTop.Meme is designed to offer liquidity services for both cryptocurrency assets and tokenized U.S. stocks and treasuries, striving to establish itself as the largest decentralized liquidity infrastructure globally. The platform's partnership with Four.Meme, the foremost launchpad on the BNB Chain, was formed in May and has already shown promising results, with a successful token generation event that filled a $1.5 million presale allocation in just six minutes.
Successful Token Generation Event
This event attracted a staggering number of participants, with over 100,000 wallets engaging during the presale. Interestingly, more than 770,000 addresses queued for the offering, demonstrating an oversubscription that surpassed $11 million. Users could contribute only through USD1, a stablecoin, which added over 500,000 new addresses in just a day leading up to the presale.
Next Steps for Baiya
According to the terms of the Agreement, BIYA will move forward with the closing process once due diligence is concluded. The Company also plans to disclose detailed transaction terms and financing arrangements shortly. An exclusivity period has been set between both parties, focusing on future negotiations and immediate integration planning.
Leadership's Vision
Ms. Siyu Yang, the Chief Executive Officer of BIYA, expressed that this agreement marks a significant milestone in the Company's development and a strategic move towards the future of blockchain and financial asset tokenization. According to Ms. Yang, this acquisition is set to position BIYA as a leader in the digital assets sector within the U.S. public markets, bridging the gap between traditional finance and the decentralized economy.
Building a Digital Asset Ecosystem
By integrating UpTop into its operations, BIYA is on the verge of creating a robust digital asset ecosystem that will fast-track its shift into the Web3 space. This endeavor will not only empower the Company but also contribute to a broader evolution in capital digitalization.
About Baiya International Group Inc.
Baiya has transformed from a job matching service provider into a cloud-based platform that offers one-stop crowdsourcing recruitment and SaaS-enabled HR solutions. Through its Gongwuyuan Platform, Baiya enhances offline job matching services and is committed to improving the flexible employment marketplace. The Company is continuously refining and developing the Gongwuyuan Platform with new features that complement its traditional service offerings, aiming to deliver enhanced job matching and HR services.
Frequently Asked Questions
What does the acquisition mean for Baiya International Group Inc.?
The acquisition will enable Baiya to enter the digital assets market, enhancing its profitability and technological capabilities.
What is UpTop.Meme?
UpTop.Meme is a decentralized liquidity protocol on BNB Chain, designed to facilitate liquidity for crypto assets and tokenized stocks.
How does Baiya plan to enhance UpTop.Meme?
Baiya plans to integrate its technology and operational team to strengthen UpTop's capabilities and market reach.
What is the significance of the $15 million projection?
This projection represents the anticipated profit increase for Baiya following the successful acquisition and integration of Starfish's assets.
Who is leading Baiya International Group Inc.?
Ms. Siyu Yang serves as the Chief Executive Officer, overseeing the Company's strategic moves in the evolving digital finance landscape.
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