Canadian crypto firm Luxxfolio Holdings Inc. plans to raise up to CAD$100 million (approximately US$73 million) through a shelf prospectus to expand its Litecoin-focused treasury strategy. The filing allows the company to issue shares, debt, or other securities over the next 25 months.
Building infrastructure around Litecoin
Luxxfolio shifted its treasury from Bitcoin to Litecoin earlier this year, calling the cryptocurrency “hard currency.” CEO Tomek Antoniak stated that the funds would help expand the company’s infrastructure and support merchant payments, stablecoins, and crypto wallets. The company has been steadily acquiring Litecoin, aiming to hold 1 million LTC by 2026.
Luxxfolio is struggling financially. In Q2 2025, it lost $197,000, up from just $8,000 in the same quarter last year, as per their report. Luxxfolio ended the quarter with just $112,000 in cash and relied on a private placement of $844,000 to stay operational. Since 2017, the company has recorded nearly $19 million in losses.
Industry experts caution that simply holding Litecoin is not enough. Mehow Pospieszalski, CEO of American Fortress, said institutions look for adoption, compliance, and usable infrastructure, not just price gains.
MEI Pharma makes a major move into Litecoin
Meanwhile, U.S.-listed pharmaceutical firm MEI Pharma (NASDAQ: MEIP) has acquired $100 million worth of Litecoin, making it the first American company to adopt LTC as its main treasury asset.
Between July 30 and August 4, MEI bought 929,548 LTC at an average price of $107.58. With Litecoin now trading around $124, the holdings are worth roughly $115 million.
The acquisition was structured as a private investment in public equity (PIPE) deal led by crypto capital markets firm GSR, which will also act as MEI’s digital asset treasury manager and strategic advisor. MEI plans to sell 29.2 million shares at $3.42 each, closing around July 22, 2025.
Alongside Luxxfolio, MEI’s move highlights a rising trend: companies are increasingly holding altcoins like Litecoin in their treasuries, a strategy that could pique institutional interest when these cryptocurrencies prove useful in the real world.
Also Read: DeFi Dev Corp Expands Solana Treasury With $77M Purchase
