UAE-headquartered M2 Capital said it invested $21 million in AVAX One, a Nasdaq-listed digital asset treasury created to accumulate AVAX, the native token of the Avalanche blockchain.
The move is part of a push to support the network’s growth and the Middle East’s adoption of regulated digital assets, the firm said in a statement.
AVAX One rebranded from AgriFORCE Growing Systems Ltd., pivoting from agricultural technology to become what it describes as Nasdaq’s first treasury vehicle focused on maximising holdings of a single blockchain token.
The company’s strategy centres on building a balance sheet of AVAX to back participation in Avalanche’s ecosystem, including potential staking, liquidity provisioning and related on-chain activities.
M2 Capital, the investment arm of UAE conglomerate M2 Group, said the transaction aligns with its mandate to bridge blockchain innovation with compliance-led demand in the Middle East and North Africa. The firm said it plans to contribute regional market access and institutional onboarding expertise, and to work with other investors and partners to accelerate AVAX accumulation and broaden Avalanche’s commercial use cases.
The investment adds to a wave of activity by regional institutions seeking exposure to digital asset infrastructure with an emphasis on regulated channels. M2 Group positions itself as a provider of secure, compliant digital asset solutions for retail and institutional clients in MENA, reflecting rising interest in tokenised products and blockchain networks under clearer supervisory frameworks.
Avalanche is a layer-1 blockchain designed for high-throughput, low-latency applications across decentralised finance, tokenised real-world assets and enterprise use cases. AVAX serves as the network’s core economic token, used for transaction fees, staking and security. AVAX One’s pivot indicates growing appetite among listed entities to adopt treasury strategies that concentrate on a single network’s token economics, while leveraging public-market visibility to scale capital formation.
M2 Capital said the partnership aims to strengthen network security and catalyse new adoption opportunities across the region through coordinated treasury activity and ecosystem development. Financial terms beyond the $21 million investment were not disclosed, and the companies did not provide a timetable for subsequent capital deployments or specific on-chain initiatives.