MAXST is changing its name to 'BitMax.' It is also pursuing a new business that uses Bitcoin as a core asset.
MAXST recently announced on the 14th that it changed its name to 'BitMax' following the change of its largest shareholder from Bahk Jae-wan and four others to Metaplatform Investment Association.
In the future, BitMax plans to adopt a business model that treats Bitcoin as a strategic asset, similar to MicroStrategy in the United States and Metaplanet in Japan.
MicroStrategy is known as the corporation with the largest Bitcoin holdings in the world. The company has been purchasing Bitcoin in large quantities since 2020 and currently holds over 470,000 Bitcoins, with related assets amounting to approximately 80 trillion won. Metaplanet, a hotel development corporation in Japan, held 1,762 Bitcoins last month, and its stock price has risen by about 4,000% over the past year due to the increase in asset value.
BitMax is preparing to establish a legitimate virtual asset enterprise overseas. Additionally, it is exploring ways to utilize physical assets on-chain by combining with decentralized finance (DeFi) to create financial products. Along with this, it plans to actively push forward tokenization projects related to real-world assets (RWA).
A BitMax representative noted, 'In the U.S., 15 states, including Pennsylvania, Texas, and Florida, are promoting legislation recognizing Bitcoin as a strategic reserve asset, and Arizona and Utah are processing their legislative steps quickly.' He added, 'This trend will positively impact the growth of BitMax's virtual asset business.'
MAXST, an extended reality (XR) tech corporation, has developed an augmented reality developer kit (AR SDK). The AR SDK has surpassed a cumulative download count of 30,000 worldwide, leading to a global user count of approximately 6.6 million for the AR applications developed through it. MAXST plans to focus on generating tangible results by concentrating on its AR platform and digital twin platform.