Singapore ride-hailing platform Ryde crypto shift into digital assets marks a bold treasury move as corporate balance sheets increasingly experiment with Bitcoin and other tokens.
Summary
Ryde adopts new digital asset treasury model
Ryde Group, a Singapore-based ride-sharing and carpool company comparable to Uber and Lyft, announced on Wednesday that it has adopted a dedicated crypto treasury strategy for its corporate reserves. The company, listed on the NYSE American, is repositioning part of its balance sheet into digital assets despite a volatile market backdrop.
Under the plan, Ryde will allocate a portion of its corporate reserves into Bitcoin (BTC), Ether (ETH), and Sol (SOL). However, the firm said that exact allocation percentages and the timing of purchases will be set later by an internal governance team, according to its announcement. This governance structure is meant to introduce discipline as the company steps deeper into crypto markets.
Ryde cited the “evolving macroeconomic environment” as a core reason for the shift, arguing that the ability to invest slices of its treasury in digital assets offers more flexibility in managing corporate funds. Moreover, management views this diversified approach as a way to respond more dynamically to inflation, currency fluctuations, and broader market uncertainty.
Custody, oversight and market reaction
To address operational and regulatory risks, Ryde’s crypto assets will be held with a third-party custodian providing professional crypto custody services. In addition, the company has formed an investment committee responsible for portfolio management and a separate risk management committee charged with overseeing asset safety and regulatory compliance. That said, details about the chosen custodian have not yet been disclosed.
Market reaction to the announcement was negative in the short term. Ryde’s NYSE American-traded shares were down more than 13% in early afternoon trading on Thursday, according to Yahoo Finance. This intraday drop trimmed the stock’s year-to-date gain from more than 122%, reflecting investor concerns about timing and execution risk around the new strategy.
The share price move continued into the session, with Ryde’s stock dropping by roughly 13% on Thursday overall, based on the same data. However, there was no immediate corporate commentary connecting the decline to the treasury news, and broader market conditions may also have played a role in the sell-off.
Cointelegraph contacted Ryde seeking additional comment about its digital asset plans and operational details of the new treasury structure. The company had not responded by the time of publication, leaving questions open around exact allocation thresholds, risk limits, and execution timelines.
From Bitcoin payments to tokenized rides
Ryde’s latest move builds on an earlier history of embracing crypto for payments within its ecosystem. The company first started accepting BTC as an in-app payment method in 2020, allowing riders to fund trips using the best-known cryptocurrency. Later, it expanded support to include additional altcoins, broadening options for users who preferred digital assets over traditional payment methods.
Moreover, customers could convert accepted cryptocurrencies into Ryde tokens through the RydePay wallet and then use those tokens to pay for services on the platform. This structure effectively created a closed-loop payment system in which riders moved from Bitcoin and other coins into the firm’s native unit of value. However, it is currently unclear whether Ryde still enables crypto as an in-app payment option today.
The company’s decision to formalize a ryde crypto treasury structure therefore extends a longer-term experimentation with blockchain-based payments. That said, the shift from simply accepting tokens to holding digital assets on the corporate balance sheet introduces new accounting, risk management, and regulatory considerations that go beyond the earlier payment use case.
Ryde enters the treasury space as sector faces pressure
Ryde is making its move into corporate digital assets at a time when the broader digital asset treasuries sector is under pressure. In September 2025, the industry experienced what analysts described as a multiple net asset value (mNAV) collapse. This meant that many listed crypto treasury vehicles began trading below the value of the crypto they held, signaling a loss of market confidence.
The stress did not end there. In February 2026, monthly inflows into crypto-focused treasury companies dropped to their lowest level since October 2024, reaching just $555 million for the month. Moreover, data from CoinGecko shows that the total US dollar value held in corporate digital asset treasuries has been falling since November 2025, highlighting a sustained drawdown across the sector.
This backdrop underscores the contrarian nature of Ryde’s timing. While some peers are scaling back, the carpool and ride-sharing company is adding digital assets to its reserve mix. However, management appears to be betting that a diversified allocation across Bitcoin, Ether, and Sol can provide long-term upside once market cycles turn and liquidity returns to the space.
Other listed firms adjust their Bitcoin and Ether holdings
Ryde is not alone in reassessing how cryptocurrencies fit into a listed company’s financial strategy. During February 2026, the board of directors of GD Culture Group (GDC), a publicly traded holding company focused on digital marketing and artificial intelligence, authorized the sale of a portion of its Bitcoin reserves. The proceeds were earmarked to finance a share repurchase program, indicating that traditional capital allocation priorities can still trump long-term crypto accumulation.
At the same time, BitMine Immersion Technologies, an Ether-focused treasury player, has faced deep paper losses on its holdings. According to BitMine Tracker, the firm is currently sitting on more than $7.5 billion in unrealized losses. This stems from the price of Ether trading well below BitMine’s average acquisition cost of about $3,753 at the time of writing.
These examples highlight the inherent volatility and risk associated with building corporate crypto reserves. Moreover, they show that outcomes can diverge sharply depending on entry timing, asset mix, and whether management chooses to treat tokens as long-term strategic holdings or as financial assets that can be liquidated to fund buybacks and operations.
Strategic implications for ride-sharing and carpool platforms
For Ryde, adopting a dedicated digital asset reserve could ultimately reshape how it competes in the ride-hailing market. The platform already distinguished itself earlier by using carpool bitcoin payments and in-app tokenization through RydePay. Now, building a corporate-level crypto portfolio adds another dimension to its positioning in the increasingly tech-driven mobility sector.
However, the path ahead involves balancing innovation with prudence. Ride-sharing companies operate on tight margins and depend on user trust, regulatory clarity, and access to capital. Any missteps in treasury management, particularly in volatile assets such as BTC and ETH, could hurt both investor sentiment and the firm’s ability to fund growth. That said, if managed carefully, the approach could also enhance financial flexibility over the long term.
In summary, Ryde’s shift into a formal ryde crypto treasury model illustrates both the promise and the uncertainty of using digital assets as corporate reserves. The firm is stepping into a sector still digesting losses and reduced inflows, yet it is also positioning itself for potential upside if market conditions improve. How the governance, risk controls, and execution play out over the next few years will determine whether this decision becomes a competitive advantage or a cautionary tale for other mobility platforms.
