Bionexus Gene Lab Corp (BGLC), a technology and healthcare-focused company incorporated in Wyoming, announced on March 6 that its board of directors has approved an ethereum-focused treasury strategy. This move makes the Nasdaq-listed company the first to “exclusively prioritize Ethereum (ETH) as a strategic treasury asset.”

According to a press statement, BGLC has also released its Ethereum strategy whitepaper, which explains why the company chose the second-largest cryptocurrency. The statement adds that Wyoming’s “forward-thinking blockchain laws” were crucial in guiding BGLC in its current direction.

Commenting on the announcement, the company’s CEO, Sam Tan, said:

By integrating Ethereum into our corporate treasury, BioNexus Gene Lab Corp. is embracing the future of financial infrastructure. Ethereum offers high liquidity, utility, and stability compared to other digital assets, positioning BGLC as a leader in blockchain-integrated corporate finance. Wyoming’s regulatory leadership further validates our decision, as it fosters an environment where blockchain businesses can thrive.

While other listed companies like Strategy (formerly Microstrategy) and Metaplanet have prioritized bitcoin (BTC), BGLC stated that an extensive analysis of ETH prompted its board to opt for the latter. Factors that influenced the BGLC board’s decision include Ethereum’s institutional credibility and its yield-generating capabilities.

Upcoming improvements to the protocol, such as the Pectra upgrade, as well as Ethereum’s dominance in financial infrastructure, were also identified as reasons for choosing ETH.

As part of this strategy, BGLC plans to expand its use of Ethereum and blockchain technology, focusing on financial applications, treasury management, and integrating blockchain into its core operations. The company is also examining how Wyoming’s stablecoin framework could enhance Ethereum’s position in digital finance.

Tan expressed hope that this strategy will enhance his company’s financial resilience and attract forward-thinking investors who “recognize the transformational potential of Ethereum.”

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