Business
707 Cayman Holdings Limited Announces Entering Into Memorandum Of Understanding
HONG KONG, Aug. 13, 2025 (GLOBE NEWSWIRE) -- 707 Cayman Holdings Limited (“707” or the “Company”) (Nasdaq: JEM), a Cayman Islands company that sells quality
About this update from 707 Cayman Holdings Limited
[{"type":"text","content":"HONG KONG, Aug. 13, 2025 (GLOBE NEWSWIRE) -- 707 Cayman Holdings Limited (“707” or the “Company”) (Nasdaq: JEM), a Cayman Islands company that sells quality apparel products and provides supply chain management total solutions, today announced the Company entered into a memorandum of understanding (the “MOU”) with Precious Choice Global Limited (“Precious Choice”), a company incorporated in the British Virgin Islands with limited liability. Pursuant to the MOU, 707 Cayman will, in a form of cooperation with Precious Choice, explore building crypto treasury reserve, including but not limited to Bitcoin, Binance Coin, Ethereum, etc., with plans to significantly scale holdings over the next 12 months, the specifics of which are still under negotiation. The MOU also contains exclusivity provision applicable to both the Company and Precious Choice for a period of one year from the date of the MOU. About Precious Choice Precious Choice is an investment holding company incorporated in the BVI with limited liability and currently operates GameFi (game finance) business. PURPOSE OF THE MOU The Company operates a business in Hong Kong that sells quality products and provides supply chain management solutions to the customers spanning from Western Europe, North America to the Middle East. The customers include mid-size brand owners and apparel companies that have comprehensive operations with private labels that are sold worldwide. In light of the better recognition of cryptocurrency by the United States and the recent regulatory development on virtual asset trading platforms for virtual assets and licensing and supervision of trading platforms and stablecoins in Hong Kong and elsewhere, the Company believes that it may be beneficial to build a portfolio of cryptocurrencies to facilitate transactions with global customers and suppliers. The use of cryptocurrency is not only expected to reduce cross-border international transaction costs and real-time payment recognition but also to reduce reliance on cash and provide optionality to leverage this strategic asset in the future. The directors (“Directors”) of the Company believe that the virtual assets and Web3 have attracted the attention of global investors and stakeholders of the Company. By entering into the MOU, the Directors believe that it allows the Company to explore the Web3 industr...