Singapore-based Ryde adopts crypto treasury strategy

The carpool and ride-sharing platform, which already accepted Bitcoin for customer payment, moves to crypto treasury despite challenges of price declines.

Ryde Group, a Singapore-based ride-sharing and carpool platform, similar to Uber or Lyft, said Wednesday that it has adopted a crypto treasury strategy for its corporate reserve.

The company said it will invest a portion of its corporate reserves into Bitcoin (BTC), Ether (ETH), and Sol (SOL), with specific allocations and time of purchase to be determined by a governance team at Ryde, according to its announcement.

Ryde cited the “evolving macroeconomic environment” as the reason for adopting a crypto treasury, and said that the option to invest portions of its treasury in digital assets gives the company more flexibility in how it manages its treasury operations.

Ryde’s crypto assets will be held with a third-party custodian, and the company has established an investment committee responsible for portfolio management and a separate risk management committee responsible for investment safety and regulatory compliance.

The company’s NYSE American-traded shares were down more than 13% in early afternoon trading on Thursday, trimming their year-to-date increase of more than 122%, according to Yahoo Finance.

Cointelegraph reached out to Ryde about its crypto treasury, but did not receive a response by the time of publication. 

The company started accepting BTC as an in-app payment method for users in 2020, and later expanded support to include some altcoins. However, it is unclear if Ryde still accepts crypto as an in-app payment method.

Users were able to convert accepted cryptocurrencies to Ryde tokens via the RydePay wallet to pay for services on the platform.

Ryde’s decision to adopt a crypto treasury strategy comes amid a challenging business environment for digital asset treasury companies, squeezed by falling crypto and share prices. 

Related: XRP treasury Evernorth files with SEC to list shares on Nasdaq

The digital asset treasury sector experienced a multiple net asset value (mNAV) collapse in September 2025, which meant many crypto treasury companies started trading below the value of their crypto holdings. 

In February 2026, monthly inflows into crypto treasury companies slowed to their lowest levels since October 2024, dropping to just $555 million for the month.

During the same month, the board of directors for GD Culture Group (GDC), a publicly listed holding company focused on digital marketing and AI, authorized the company to sell portions of its Bitcoin reserve to finance a share repurchase program.

At the same time, Ether treasury company BitMine Immersion Technologies faces more than $7.5 billion in paper losses at the time of this writing, as the price of Ether sits well below BitMine’s average acquisition price of about $3,753 according to BitMine Tracker.

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Source: CoinTelegraph