Mega Matrix Inc. (NYSE American: MPU), a short-video streaming platform and producer of short dramas, has announced the successful completion of a private placement, raising $16 million. The funds will support the company's strategic expansion into the stablecoin sector. The private placement involved the issuance of 16,000,000 Class A ordinary shares at $1.00 per share to qualified institutional and accredited investors, featuring a 6-month lock-up period. This move signifies Mega Matrix's official entry into the stablecoin market, as regulatory frameworks become clearer and the sector experiences accelerated growth. The company plans to use the proceeds to develop a stablecoin asset allocation system and on-chain yield mechanisms, while engaging with leading stablecoin issuers globally.
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