SMX establishes treasury subsidiary in Ireland for digital assets

SMX (Security Matters) (NASDAQ: SMX) announced the establishment of a wholly owned subsidiary in Ireland called SMX (Treasury and Digital Asset Holding Company) Limited, according to a Form 6-K filing. The new entity will enable the company to incorporate Bitcoin and other digital assets into its treasury operations.

The announcement follows the recent signing of the GENIUS Act into U.S. law, which SMX describes as the first comprehensive federal framework recognizing cryptocurrency and stablecoins in the United States. The company stated this legislation accelerates its existing digital asset strategy rather than prompting a strategic change.

SMX operates blockchain-based technology for supply chain traceability, including the Plastic Cycle Token (PCT), which provides tracking of materials from origin to end use. The company said the PCT offers brands a way to monetize circularity and meet compliance standards through a decentralized ledger.

The company indicated that an additional bill related to digital assets is expected this week, which it believes will provide a more favorable environment for scaling its systems.

SMX focuses on helping businesses transition to a low-carbon economy through its marking, tracking, measuring and digital platform technology as companies face carbon neutrality challenges and regulatory requirements.

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