Jiuzi Holdings plans to expand its private funding round to $1 billion to support the development of the crypto industry.

Odaily Planet Daily reports that Nasdaq-listed Jiuzi Holdings has announced the signing of Memoranda of Understanding (MOUs) with several institutional investors to expand its private placement to $1 billion. The funds raised will reportedly be used to support the company's cryptocurrency business development, including building secure hosting infrastructure and innovative storage solutions. (Prnewswire)