Singapore-based Ryde adopts crypto treasury strategy

Singapore's Ryde Group — think Uber's little brother — just dropped a bombshell: they're moving corporate cash into crypto. Not just accepting payments anymore, they're putting treasury reserves into BTC, ETH, and SOL. This isn't a side hustle — it's a full-blown strategic pivot.

The company cited the "evolving macroeconomic environment" as the reason. Translation: traditional finance is looking shaky, and crypto offers more flexibility. A governance team will decide the exact allocations and timing — no random ape-ing in here.

Ryde's setting up proper guardrails: crypto assets will be held with a third-party custodian. They've created an investment committee for portfolio management and a separate risk management committee for safety and regulatory compliance. This isn't a cowboy move — it's institutional-grade.

But the market's not exactly cheering: Ryde's NYSE American-traded shares tanked over 13% on Thursday, wiping out some of their 122% year-to-date gains. The stock's bleeding while they're betting on digital gold.

Ryde's been flirting with crypto since 2020 when they started accepting Bitcoin for in-app payments. They later expanded to altcoins and even had a RydePay wallet for converting crypto to platform tokens. But whether that's still live today? Unclear.

Ryde's jumping into crypto treasuries right as the sector faces its darkest hour. The digital asset treasury space got wrecked by a multiple net asset value (mNAV) collapse in September 2025 — companies started trading below their crypto holdings' value.

Inflows have dried up: February 2026 saw just $555 million in monthly inflows, the lowest since October 2024. The total USD value in corporate crypto treasuries has been dropping since November 2025. This is like opening a beach bar during a hurricane.

Other players are struggling: GD Culture Group authorized selling Bitcoin to fund share buybacks. BitMine Immersion Technologies is sitting on over $7.5 billion in paper losses as ETH trades way below their average $3,753 acquisition price.

Ryde's either seeing an opportunity everyone else missed, or they're about to learn why the sector's bleeding. Either way, they're making moves while others are cutting losses.