<div id="readability-page-1">Jiuzi Holdings ( JZXN ) has secured institutional commitments that could boost its private placement financing to $1 billion, marking a major step as the company rapidly pivots to crypto asset services. The new commitments greatly expand the private placement first announced in October, when Jiuzi ( JZXN ) aimed to raise $12 million. This signals strong investor support for the company's new direction. Jiuzi ( JZXN ), primarily a new energy vehicle dealer in China, plans to use the funds to build its crypto asset services platform. Also Read: Sonic Automotive Warns Of Tariff Uncertainty Even As Sales Hit Record Highs Investments will focus on secure custody infrastructure and advanced storage solutions for institutional and enterprise clients amid growing demand for digital asset services. CEO Tao Li stated that the investor commitments reinforce confidence in the company's direction and provide additional financial flexibility. &#34;The strong trust placed by investors validates our strategic vision and execution capabilities. This substantial additional capital provides us with significant financial flexibility to build secure crypto asset custody infrastructure and pursue strategic acquisition opportunities within the rapidly evolving crypto asset storage ecosystem.&#34; Separately, Jiuzi's ( JZXN ) board approved a 1-for-40 reverse stock split to meet Nasdaq's $1 minimum bid price. Effective December 10, the move reduced outstanding shares from 50.2 million to 1.26 million, without affecting shareholders' proportional ownership. JZXN Price Action: Jiuzi Hldgs ( JZXN ) shares were up 1.42% at $5.70 at the time of publication on Friday, according to Benzinga Pro data. Read Next: <ul> <li>3 Macro Factors Driving The Bitcoin Drawdown From $120,000 To $90,000</li> </ul> Photo by Alexandru Nika via Shutterstock</div>

JZXN

Jiuzi Holdings (NASDAQ:JZXN), a new energy vehicle dealer in China, has secured institutional commitments to expand its private placement financing to $1 billion for crypto asset services. The funds will be used to build a crypto asset services platform, focusing on secure custody infrastructure and advanced storage solutions. Additionally, Jiuzi's board approved a 1-for-40 reverse stock split to meet Nasdaq's $1 minimum bid price. Shares were up 1.42% at $5.70.

Small China NEV Dealer Eyes $1 Billion Crypto Pivot