Latest news with #CryptocurrencyTreasuryReservePolicy
Business Upturn
4 days ago
- Business
- Business Upturn
Heritage Distilling Company Advances Strategic Crypto Initiatives
Board adopts cryptocurrency reserve policy as part of treasury diversification Bitcoin Bourbon™ pre-launch and giveaway contest unveiled FinTech veteran Matt Swann appointed to Board of Directors Redefines CPG Sector to 'Crypto Product Goods' GIG HARBOR, Wash., June 05, 2025 (GLOBE NEWSWIRE) — Heritage Distilling Holding Company, Inc. (NASDAQ: CASK), North America's most awarded craft distillery, is pioneering a new category: Crypto Product Goods (CPG). This marks a shift from traditional consumer packaged goods to products built around blockchain technologies and cryptocurrency integration, making Heritage the first craft spirits company to accept crypto as a form of payment for spirits. Cryptocurrency Treasury Reserve Policy Adopted The Company recently adopted a Cryptocurrency Treasury Reserve Policy as part of a broader strategy to diversify corporate sales and treasury operations. As a first step, the Company is preparing the pre-launch of its Bitcoin Bourbon™, which customers will be able to purchase using Bitcoin. Heritage is also exploring crypto payments across its supply chain, beginning with Canadian suppliers, as it refines its blockchain protocols and infrastructure. 'Our transition to a Crypto Product Goods company reflects our commitment to meeting customers where they are,' said Justin Stiefel, CEO and Co-founder. 'This isn't just about accepting crypto payments—it's about reshaping the future of how consumer brands connect and engage. We're redefining what CPG means in the digital age.' Strategic Leadership for a Digital Future To support this evolution, Heritage appointed Matt Swann, a FinTech leader with nearly 30 years of experience in payments and digital infrastructure, to its Board of Directors. Swann now chairs the newly formed Technology and Cryptocurrency Committee, guiding the company's digital roadmap and blockchain strategy. Swann's team is actively developing: On-chain loyalty programs Product-linked NFTs Tokenized supply chains Decentralized consumer engagement tools 'Heritage is merging real-world products with the power of decentralized technology,' said Matt Swann. 'This isn't just innovation—it's transformation.' Looking Ahead With fewer than 125 public companies adopting crypto treasury strategies, Heritage stands out as a forward-thinking leader in both spirits and digital finance. The implementation of its cryptocurrency reserve policy marks the beginning stages of multi-stage initiative to ensure regulatory compliance while evolving as a crypto-enabled ecommerce brand. Company plans to unveil additional crypto-aligned products and partnerships in the months ahead. About Heritage Distilling Company, Inc. Bitcoin Bourbon™ is part of the company's broader strategy to integrate cryptocurrency into its operations. Heritage is among the premier independent craft distilleries in the United States, offering a variety of whiskeys, vodkas, gins, rums, and ready-to-drink canned cocktails. Heritage has been North America's most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce, and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands, and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage's commitment to innovation, community engagement, and sustainable growth. Forward-Looking Statements This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'seeks,' 'will,' and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on Heritage's current expectations, estimates, and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks associated with the development and release of the Bitcoin Bourbon™ product, the success of the pre-release sign-up campaign and associated contest, any liabilities created by sponsoring the contest, the impact of any new or anticipated business developments that would be expected to result therefrom, and other risks described in Heritage's registration statement on Form S-1, and its quarterly 10-Q and annual 10-K filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. Investor Contact:(800) 595-3550 [email protected]
Business Mayor
19-05-2025
- Business
- Business Mayor
Heritage Distilling Now Accepts Bitcoin and Will Hold It as a Company Asset
Yesterday, Heritage Distilling Holding Company, Inc. (NASDAQ: CASK), a leading U.S. craft spirits producer, announced that it will begin accepting Bitcoin as payment through its direct-to-consumer (DTC) e-commerce platform and will hold bitcoin as strategic assets under a newly approved Cryptocurrency Treasury Reserve Policy. The policy, approved by the company's Board of Directors as part of a broader sales and treasury diversification strategy, was developed by the Technology and Cryptocurrency Committee, chaired by tech and digital payments leader Matt Swann. The move makes Heritage the first in the craft spirits sector to formally integrate bitcoin into both its payment and treasury operations. 'A new age of commerce is emerging, with cryptocurrencies leading the way to reduce friction between parties, buyers and sellers of goods and services,' stated Matt Swann on behalf of the Board. 'Having been immersed in the convergence of technology and currencies for nearly two decades, it is exciting to see Heritage forge headfirst into the opportunity to combine the power of the consumer and cryptocurrency.' Heritage's decision comes amid rapidly growing public interest in digital assets. The company said it estimates that between 65 to 86 million Americans currently hold Bitcoin and crypto, and realizes the opportunity Heritage has to acquire more BTC by accepting it as payment. 'Heritage has always been an innovator and once again we are leading the way in the craft spirits space as we prepare to accept Bitcoin and Dogecoin as a form of payment for online e-commerce sales and to acquire and hold these cryptocurrencies as assets,' commented the CEO of Heritage Justin Stiefel. 'As I have noted in the past, unlike traditional investors who purchase crypto with cash and are immediately subject to potential pricing volatility, as a company producing goods for sale, acceptable margins between the retail price of our products and their cost of production is expected to offset potential fluctuations in the value of cryptos we accept as payment. This provides us considerable financial flexibility as we develop product offerings for users and enthusiasts of these fiat alternatives.' Read More Live Election Day Coverage for Bitcoiners The company sees Bitcoin as a long-term strategic asset and a forward-looking step in connecting with modern consumers while also exploring new efficiencies in financial operations. Heritage is not only integrating Bitcoin as a payment method but also incorporating it into its treasury strategy. The new Cryptocurrency Treasury Policy can be found here. READ SOURCE
