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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

14. Subsequent Events

Tokenization of Class A Common Stock

Beginning October 20, 2025, holders of our Class A Common Stock have the ability to tokenize their shares on the Solana blockchain through our co-transfer agent, Superstate. The tokenized common stock is recorded and maintained by the co-transfer agent and represents the same ownership interests as the corresponding shares of Class A Common Stock reflected in the company’s official share register.

Gratitud Interna, Ltd. Asset Purchase Agreement

On November 10, 2025, the Company entered into an asset purchase agreement with Gratitud Interna, Ltd., to purchase certain assets, including technology, applications, software, APIs, databases and web or cloud-based inferences relating to and used in connection with its payment platform. The purchase price is approximately $3.0 million, of which $1.5 million is payable in cash and $1.5 million is payable in newly issued Class A shares based on the 60-day trading volume weighted average price at the time of closing. The Company is currently assessing the applicable accounting considerations as it relates to this transaction, including developing our fair value assumptions for the assets being acquired.

 

Master Digital Currency Loan Agreement with Galaxy Digital LLC

 

On November 5, 2025, the Company entered into a Master Digital Currency Loan Agreement with Galaxy Digital LLC (“Galaxy”), under which the Company may borrow digital assets and/or U.S. dollars from Galaxy pursuant to individual loan term sheets (each, a “Loan”). The Agreement establishes the general terms governing such loans, including procedures for loan requests, collateral requirements, borrow fees, callable and term loan structures, margin call and refund provisions, and rehypothecation rights, subject to mutual consent. No amounts have been borrowed or drawn down under the Loan Agreement as of the date hereof.