Ryde, Singapore Ride-Sharing Firm, Implements Digital Asset Treasury Approach
Already accepting Bitcoin payments from customers, the carpool and ride-hailing service transitions to cryptocurrency treasury management amid volatile market conditions.
On Wednesday, Ryde Group, a Singapore-headquartered ride-hailing and carpooling service comparable to platforms like Uber and Lyft, announced its implementation of a cryptocurrency treasury strategy for managing its corporate cash reserves.
According to the company's statement, Ryde will allocate a segment of its corporate cash reserves toward Bitcoin (BTC), Ether (ETH), and Sol (SOL), with the precise allocation percentages and timing of acquisitions to be decided by a governance committee within Ryde.
The company pointed to the "evolving macroeconomic environment" as its rationale behind implementing a crypto treasury approach, noting that having the capability to allocate treasury funds into digital currencies provides the organization with enhanced flexibility in conducting its treasury management operations.
The digital assets acquired by Ryde will be stored with a third-party custody provider, while the company has formed an investment committee tasked with overseeing portfolio management alongside a distinct risk management committee charged with ensuring investment security and adherence to regulatory requirements.
Shares of the company, which trade on the NYSE American exchange, experienced a decline of over 13% during early afternoon hours on Thursday, reducing their year-to-date gains which had exceeded 122%, based on data from Yahoo Finance.
Cointelegraph contacted Ryde for additional details regarding its cryptocurrency treasury strategy, but had not received any response at the time this article was published.
In 2020, the company began accepting BTC as a payment option within its mobile application for users, and subsequently broadened its cryptocurrency support to encompass certain altcoins. Nevertheless, it remains uncertain whether Ryde continues to accept digital currencies as an in-app payment option.
Platform users had the ability to exchange accepted digital currencies into Ryde tokens through the RydePay wallet system to cover the cost of services offered on the platform.
The company's move to implement a cryptocurrency treasury approach arrives during a difficult operating landscape for businesses maintaining digital asset treasuries, pressured by declining cryptocurrency valuations and stock market performance.
Ryde goes against current trends by joining the treasury sector while the industry confronts difficulties
Companies holding digital assets in their treasuries witnessed a multiple net asset value (mNAV) breakdown in September 2025, resulting in numerous crypto treasury corporations beginning to trade beneath the actual value of their cryptocurrency positions.
During February 2026, capital inflows into crypto treasury corporations decelerated to their weakest performance since October 2024, plummeting to merely $555 million throughout the month.
Throughout that same time period, the governing board of GD Culture Group (GDC), a publicly traded holding corporation specializing in digital marketing and artificial intelligence, granted authorization for the organization to liquidate segments of its Bitcoin holdings to fund a stock buyback initiative.
Concurrently, BitMine Immersion Technologies, an Ether treasury corporation, is grappling with unrealized losses exceeding $7.5 billion as of this writing, given that the current price of Ether remains substantially lower than BitMine's average purchase price of approximately $3,753 according to data from BitMine Tracker.