StableX Technologies (NASDAQ: SBLX) announced on Thursday that it has completed a second strategic token purchase, acquiring Chainlink (LINK) as part of a plan to build a portfolio of tokens that underpin the stablecoin ecosystem, with a potential value of up to $100 million.
The company, formerly AYRO, described the purchase as a deliberate move to concentrate holdings in infrastructure assets that provide price feeds, proof-of-reserve verification, and other services crucial to stablecoins and DeFi.
StableX flagged Chainlink’s role as a leading decentralized oracle network and argued LINK is a “cornerstone” asset for the strategy.
In a statement, James Altucher, StableX’s digital treasury asset manager, said Chainlink’s feeds and reserve-verification tools are widely used by stablecoin issuers and institutional partners, and that LINK’s market share in decentralized oracles made it a “must-own” holding for the firm’s pure-play stablecoin portfolio.
The Chainlink purchase follows StableX’s initial acquisition of FLUID in September and comes amid a broader corporate pivot toward token investments. StableX has also announced custodial arrangements and market-access partnerships, including work with BitGo, to secure and manage its growing digital-asset treasury.
The company said it will continue evaluating additional token purchases as it executes the $100 million programme.
Market commentators noted the move increases StableX’s exposure to protocol tokens rather than fiat or issuer credit, a strategy that can deliver upside if the ecosystem expands but also raises volatility and regulatory questions for a Nasdaq-listed issuer.
The firm did not disclose the exact size or cost basis of the LINK acquisition. Analysts said investors should watch for further SEC filings or updates clarifying custody, accounting treatment, and any planned trading or staking of the holdings.
StableX frames the purchases as building blocks for a stablecoin-focused investment vehicle, combining oracle infrastructure (LINK) with stablecoin trading and liquidity tools (FLUID) to capture growth and income opportunities as tokenised finance evolves.
Whether that thesis proves out will depend on execution, market conditions, and how regulators treat corporate treasuries holding protocol tokens.