Above Food Stock Soars 10.34% on Blockchain Venture

On May 6, 2025, Above Food's stock surged by 10.34% in pre-market trading, reflecting a significant boost in investor confidence and market sentiment.

Above Food Ingredients Inc. has recently announced a strategic joint venture with Palm Global Technologies and Abu Dhabi conglomerate Promax United LLC, forming Palm Promax Investments. This venture aims to revolutionize the global financial landscape by developing next-generation investment products and platforms powered by advanced blockchain, AI, and Web-3 technologies. The joint venture seeks to create the world's leading digital fixed-income platform and the most globally recognized stablecoin digital asset, anchored by the tokenization of over $1.5 trillion in AA and AAA-rated Real-World Assets.

Palm Promax has launched with an initial injection of approximately $350 billion in U.S. gold-based assets, which will securitize and anchor its fixed income platform and stablecoin. This initiative is expected to facilitate the widespread adoption of Palm Promax's gold-backed stablecoin, addressing challenges faced by nations whose domestic currencies are not widely accepted for international trade. The venture has already secured partnerships with more than fifteen sovereign nations, including the Central Bank of the UAE, and aims to empower developing economies by providing a freely tradable and globally accepted currency.

Beyond conventional assets, Palm Promax is pioneering the valuation of nature itself, integrating carbon credits, biodiversity reserves, AgTech, and ecosystem services into its platform. This approach aligns profitability with planetary stewardship, positioning Palm Promax as a leader in sustainable investment. The joint venture is set to launch what is anticipated to be the world's largest asset-backed stablecoin, further strengthening its position in the global financial market.