Nasdaq-listed Worksport has adopted a BTC, XRP treasury strategy.

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Worksport plans to allocate up to $5 million, or 10 percent of its cash reserves, to Bitcoin and XRP. The company accepts crypto payments on its e-commerce platform and expects to reduce transaction fees by up to 37%.

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Nasdaq-listed Worksport, a company that designs and manufactures truck parts, is adding bitcoin and XRP to its treasury assets, according to a Thursday press release.

The move aims to bring about various changes. Treasury Strategy and increase overall financial stability. Worksport views crypto-assets like Bitcoin and XRP as inflation-resistant assets, and investing in these digital currencies is a way to hedge its cash reserves against inflation.

“Our upcoming adoption of Bitcoin (BTC) and XRP (Ripple) reflects our commitment to buck market trends while prioritizing operational efficiency and shareholder value,” said Worksport CEO Steven Rossi.

Worksport plans to spend 10% of its reported cash reserves of up to $5 million on Bitcoin and XRP. The allocation ratio of crypto investments may change in the future “based on current market conditions.”

The New York-based company accepts crypto payments on its e-commerce platform, which is expected to reduce processing fees for crypto transactions by up to 37 percent.

Other initiatives include converting interest income from money market accounts into Bitcoin and XRP and allocating a portion of future capital increases to these digital assets.

Rossi is a long-term XRP investor and A A strong believer in decentralized assets, he shared in an interview.

“I think so XRP is becoming very stable Currency and Property,” Rossi he said. Although he recognizes that he may still experience volatility in the short term, he expects that the crypto asset will have enough stability to provide investment value.

“When I saw my wallet and No I see that XRP is doing well recently, I am very happy. Surprised, and They confirmed again that… [are] Early assets that really challenge the central bank,” Rossi added.

The company reported strong financial performance, with third-quarter revenue of $3.1 million, a 581 percent increase from $458,433 in the same period last year.

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