Nasdaq-listed company SunCar plans to spend $10 million to purchase cryptocurrencies.

ChainCatcher reported that Nasdaq-listed company SunCar announced its board of directors has authorized the allocation of $10 million to purchase certain mainstream cryptocurrencies, which are expected to benefit from the rapid growth of risk-weighted asset (RWA) tokenization. From a strategic perspective, SunCar believes that blockchain integration and RWA tokenization represent a natural evolution of its AI-based cloud technology in the fields of digital auto insurance and automotive services.