ZOOZ Power said Tuesday it has selected Crypto.com’s over-the-counter trading desk to acquire bitcoin for what it says will be Israel’s first corporate bitcoin treasury, as the dual-listed company advances a previously announced $180 million private placement due to close in the second half of September.
Under the partnership, Crypto.com will provide block-trade execution, deep liquidity, and discreet settlement for ZOOZ’s treasury purchases, the companies said. “We’re proud to support ZOOZ Power in this important step of its treasury strategy,” said Eric Anziani, Crypto.com’s president and COO. ZOOZ CEO Jordan Fried said the collaboration would “accelerate bitcoin adoption in Israel” as the firm builds a long-term reserve.
ZOOZ announced in July that it plans to raise about $180 million through a private placement to fund its bitcoin reserve strategy, subject to shareholder approval. The company has already closed an initial $5 million tranche and has called a special shareholder meeting for September 19.
Crypto.com has been expanding its institutional services, including upgrades to its OTC suite and availability for VIP clients in the US, positioning the desk to handle large, price-sensitive orders from corporate treasuries. (Crypto.com)
ZOOZ, which trades on Nasdaq and the Tel Aviv Stock Exchange under the ticker ZOOZ, says it expects to be the first company with listings on both markets to implement a long-term bitcoin treasury. Historically, ZOOZ has focused on flywheel-based power-boosting technology that enables ultra-fast EV charging in grid-constrained locations.
The company cautioned that forward-looking plans remain subject to market, regulatory, and shareholder risks, in line with statements filed with the US Securities and Exchange Commission.