Palm Global Technologies announced the launch of Palm Promax Investments ('Palm Promax') on May 5, 2025, a strategic joint venture with Abu Dhabi conglomerate, Promax United LLC. Palm Promax aims to redefine the global financial landscape through next-generation investment products and platforms powered by Palm Global's advanced blockchain, Artificial Intelligence, and Web-3 technologies.
The venture's vision includes creating a leading digital fixed-income platform and a globally recognized stablecoin digital asset. These initiatives are anchored by the tokenization of over $1.5 trillion in AA and AAA-rated Real-World Assets and backed by sovereign partnerships in more than fifteen nations.
Palm Promax launched with an initial injection of approximately $350 billion in U.S. gold-based assets onto its balance sheet, serving to securitize its fixed income platform and stablecoin. Palm Global holds a 30% ownership stake in Palm Promax, which is expected to translate into substantial high-margin revenues, earnings, and cash flows. Above Food's Chairman and CEO, Lionel Kambeitz, commented that Above Food's acquisition of Palm Global will significantly enhance shareholder value and contribute to its balance sheet.
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