SMX Opens Kraken Account for Treasury Strategy

SMX Engages Kraken for Strategic Treasury Management

SMX (Security Matters) PLC has opened a corporate account with cryptocurrency exchange Kraken. This move is a key part of a new treasury strategy authorized by its Board of Directors to support the company's technology and verification roadmap.

Overview of the Strategic Initiative

The company emphasized that the engagement is infrastructure-oriented rather than for transactional purposes. SMX selected Kraken for its institutional-grade platform, citing its secure custody and compliance standards. This infrastructure is intended to support future accounting and settlement mechanisms tied to verified physical activity using SMX's molecular-marker technology.

Impact on Digital Asset Framework

This treasury strategy is designed to support systems connecting verified physical goods to digitally represented value. A key component is the Plastic Cycle Token (PCT), a virtual credit framework for verified recycled plastic. The Kraken account establishes the financial infrastructure to handle digital units like the PCT, ensuring value is linked to authenticated material flows, not estimates.

Summary

By building its treasury and accounting infrastructure, SMX is preparing to manage digitally represented value units. This initiative supports its core mission of advancing material traceability and authentication across global supply chains, positioning the company to bridge physical assets with the digital economy.

FAQ

Q: Why did SMX open an account with Kraken?
A: SMX opened the account as part of a treasury strategy to build the infrastructure needed to manage digital assets tied to its physical material verification technology.

Q: What is the Plastic Cycle Token (PCT)?
A: The PCT is a virtual credit system designed by SMX to represent verified recycled plastic activity, linking digital credits directly to authenticated physical materials.

Source: Investing.com