Genius Group completes a $8 million funding round to acquire shares in Bermuda Digital Bank

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Techub News reported that, according to CryptoBriefing, AI education company Genius Group has completed an $8 million registered direct offering, which will be used to acquire a 9.9% stake in Jewel Financial, the parent company of Bermuda digital bank Jewel Bank. The company sold 21.6 million shares of common stock at a price of $0.37 per share, with D. Boral Capital serving as the exclusive placement agent. Jewel Bancorp holds a full banking license issued by the Bermuda Monetary Authority and an F-class digital asset services license, and is developing the U.S. dollar stablecoin JUSD and related infrastructure. This investment advances Genius Group’s plans previously announced in connection with the GENIUS Act, including its goal of becoming a compliant payment stablecoin issuer and a digital asset service provider.

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