DeFi

AQRU PLC targets high-net-worth individuals and institutional investors in operational review

AQRU PLC (AQSE:AQRU), an incubator specialising in opportunities in decentralised finance (DeFi), has carried out an operational review aimed at streamlining its business to improve its resilience amid continued volatile conditions in the cryptocurrency and digital assets markets.

AQRU’s wholly owned subsidiary, Accru Finance Ltd, is raising the threshold for minimum account deposits on its platform to US$250,000 from February 1. This change will enable the company to focus on servicing customers that are less sensitive to market volatility than retail investors, particularly high-net-worth individuals and institutional investors.

Customer accounts below the threshold will be offboarded and have their account balances refunded in full by AQRU. The company expects there to be a significant reduction in the value of assets held on the AQRU app, but only a minor reduction in revenue.

AQRU has identified an additional opportunity to further lower headcount and operational costs and strengthen its balance sheet by discontinuing Accru Finance’s index strategies for cryptocurrencies.

The change will take effect on or about February 1 and is in line with Accru Finance’s increased focus on offering services to high-net-worth individuals and institutional investors.

This latest review follows a cost-reduction exercise conducted in November 2022.

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