VERSABANK TRANSFERS DIGITAL DEPOSIT RECEIPT ASSETS AND OTHER RESOURCES TO WHOLLY OWNED SUBSIDIARY FOCUSED EXCLUSIVELY ON DIGITAL ASSET OPPORTUNITY
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VersaBank has transferred its Digital Deposit Receipt assets and resources to a wholly owned subsidiary, Digital Meteor, Inc., to focus on digital asset opportunities. This move supports the planned divestiture of its cybersecurity businesses.
January 27, 2025 | 12:15 pm
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VersaBank has transferred its Digital Deposit Receipt assets to a subsidiary, Digital Meteor, Inc., to focus on digital asset opportunities, supporting its cybersecurity business divestiture.
The transfer of DDR assets to a dedicated subsidiary indicates a strategic focus on digital asset opportunities, which could enhance shareholder value. This move aligns with the planned divestiture of cybersecurity businesses, suggesting a clear strategic direction.
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