DIGIASIA Plans $100M Bitcoin Reserve Amid Nasdaq Delisting

Introduction

DIGIASIA CORP (NASDAQ: FAAS), known in Korean as 디지아시아, is a fintech-as-a-service (FaaS) provider serving emerging markets. The company’s platform enables small and medium-sized enterprises to integrate digital financial services—such as cashless payments, digital wallets, and banking—via API. On July 11, 2025, FAAS shares traded at USD 0.6689, a 63.51 percent increase, with 28,532,108 shares changing hands on the Nasdaq Capital Market.

Corporate Structure

Founded in 2017 and headquartered in Jakarta, Indonesia, DIGIASIA employs between 51 and 200 people. The leadership team includes:

• Bhargav Marepally, founder and SPAC strategist with a background in IT solutions
• Hendra Sumiarsa, digital transformation officer specializing in IoT, ICT, and AI
• Fita Siallagan, human resources specialist focused on talent development

This multidisciplinary structure supports the company’s B2B2X model, which extends services through partnerships across Southeast Asia, India, and the Middle East.

Bitcoin treasury by Traxer

Developments and News

On May 19, 2025, DIGIASIA’s board approved a plan to establish a Bitcoin treasury reserve, committing up to 50 percent of net profits to the acquisition of BTC and exploring a capital raise of up to USD 100 million. Eight days later, on May 27, the company announced it was shortlisting investment banks to advise on that initiative, aiming to finalize a lead bank within the week and commence Bitcoin purchases in Q3 2025.

Meanwhile, regulatory filings showed compliance challenges. On May 21, DIGIASIA received a Nasdaq deficiency notice for failing to file its 2024 Form 20-F and interim Form 6-K; the company set a target of June 30, 2025, to address these delinquencies. On July 1, Nasdaq notified DIGIASIA of a delisting determination under Rule 5550(a)(2) (minimum bid price) and Rule 5250(c)(1) (timely filings), effective July 10 unless an appeal is filed. A Form 6-K filed July 8 confirmed the company intends to appeal and request a hearing.

Financial and Strategic Analysis

At mid-session on July 11, FAAS traded at USD 0.6689, within a 52-week range of USD 0.16 to USD 4.41. Key metrics include a market capitalization of USD 36.9 million, 56.14 million shares outstanding, and a 10-day average volume of 0.85 million. The stock exhibits a beta of 2.29 and a year-to-date change of -23.11 percent.
For the trailing twelve months, revenue stood at USD 57.7 million with a gross margin of 96.1 percent; net margin was -9.14 percent. Earnings per share (TTM) were USD 0.14, yielding a P/E ratio of 4.75. No dividends are currently declared.

Strategically, the USD 100 million Bitcoin treasury initiative positions DIGIASIA among the larger corporate crypto treasury efforts announced for 2025. The proposed capital raise includes equity-linked offerings, convertible notes, and structured crypto finance instruments designed to support long-term BTC holdings and generate regulated yields. Execution risks include market volatility, potential shareholder dilution, and the impact of the ongoing Nasdaq compliance process.

Market Position and Industry Context

DIGIASIA operates in the rapidly evolving FaaS sector, where embedded financial services drive greater inclusion for underbanked populations. By leveraging APIs, the company competes with regional fintech platforms to deliver payment, wallet, and banking solutions. Its planned Bitcoin treasury strategy aligns with a broader trend of corporates allocating part of their treasury to digital assets. In a developing corporate crypto adoption landscape, DIGIASIA’s actions may influence peer approaches to treasury diversification and blockchain initiatives.

tl;dr

As of July 11, 2025, FAAS shares increased by 63.51 percent to USD 0.6689 amid the company’s plan to raise up to USD 100 million for a Bitcoin reserve and initiate BTC purchases in Q3 2025. Concurrently, DIGIASIA faces a Nasdaq delisting notice scheduled for July 10 unless its appeal succeeds and overdue 2024 filings are submitted by June 30. Future milestones include a hearing on the appeal, completion of the capital raise, and initial Bitcoin acquisitions.