The acquisition was formalized through an Asset Purchase Agreement, which includes provisions for milestone-based equity issuances tied to the performance of both TCC and the Frame business. Notably, TCC will issue shares of its common stock to Frame Holdings based on the achievement of specific market capitalization and valuation milestones. This structure aligns the interests of both parties and incentivizes performance.
In addition to the blockchain technology, TCC has committed to providing at least $2 million in funding to Frame Intelligence, LLC, a wholly-owned subsidiary formed to manage the Frame assets. This funding is crucial for the development and operational execution of the Frame Blockchain.
The CEO of TCC, Ron Levy, emphasized the importance of this acquisition, stating, "We believe an economic expansion of historic magnitude is taking shape in real time. Innovative technology and new financial systems are enabling millions of people to build businesses around the work that matters to them. That economy needs a settlement layer that matches its speed and ambition, and we believe digital assets are required to enable that growth."
The acquisition also includes a Consulting Agreement with Frame Holdings, which will provide strategic and technical services to TCC. This agreement ensures that TCC will have access to the expertise necessary to effectively integrate and operate the Frame technology.
Overall, this acquisition is seen as a strategic move for TCC, enhancing its operational capabilities and positioning it for future growth in the competitive crypto market. The expected launch of the Frame Blockchain is anticipated to attract significant interest and investment, further solidifying TCC's role in the evolving landscape of digital assets.
