Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Pri01rty adopts Bitcoin treasury policy
(Sharecast News) - Pri0r1ty Intelligence Group (PR1) announced on Friday that it has formally adopted a Bitcoin-focused treasury management policy as part of its broader integration of cryptocurrency payment options. The AIM-traded firm said the move reflected growing customer demand for digital currency transactions, and would position it at the forefront of crypto adoption among UK SMEs.
Under the new policy, Bitcoin was now the only approved non-cash asset on the company's balance sheet.
Payments received in other cryptocurrencies would be converted into Bitcoin or cash within three days.
The company said it was also planning to invest up to 50% of its surplus cash in Bitcoin, adding that it would appoint an independent treasury agent should its BTC holdings exceed £1m.
PR1 said the shift followed its recent integration of cryptocurrency payments via Coinbase Commerce, which allowed customers to pay in Bitcoin and stablecoins.
Several clients - including some that offered BTC treasury services themselves - had already used the new feature.
"With a forecast increase in BTC settlements, it was important to establish a treasury policy to govern how we manage the various risks and opportunities around this asset class," said chief executive officer James Sheehan.
"We expect our exposure to BTC to grow, as we continue to drive our revenues and expand our customer base."
He added that the company believed that cryptocurrencies could play a "critical role" in the future of business transactions.
"We are pleased to be at the forefront of this change that we believe will enhance our business model."
The company said the new framework included governance measures and internal controls to manage risk and ensure transparency as it built its Bitcoin exposure alongside its traditional operations.
At 1515 BST, shares in Pri0r1ty Intelligence Group were up 84.81% at 7.3p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.