Connexa Sports Technologies Inc. recently experienced a substantial 32.12% increase in its stock value during after-hours trading, pushing its price to $0.26. This surge was attributed to the company's announcement of a comprehensive corporate restructuring and significant new investments in blockchain technology. The company also saw a 7.22% gain in regular trading, closing at $0.19. As part of this strategic transformation, the Maryland-based technology firm will soon be known as AiRWA Inc., signaling a definitive shift from its traditional sports technology focus towards Web3 and blockchain-driven financial services.
A key element of this transition is a substantial financial commitment from JuCoin Pte Ltd, a cryptocurrency firm based in Singapore. JuCoin has pledged an initial investment of $100 million into AiRWA Exchange, a joint venture, which notably includes 150,000 Solana tokens, currently valued at approximately $34.14 million. The total funding for AiRWA Exchange is expected to reach $500 million from both partners. The new exchange will specialize in major trading pairs operating on the Solana blockchain, chosen for its renowned scalability and minimal transaction fees. Hongyu Zhou, Chairman of YYAI, expressed strong confidence in Solana's technological capabilities, emphasizing its importance for the vision of AiRWA Exchange.
Furthermore, AiRWA Exchange has successfully conducted test runs for settling tokenized U.S. equity trades, positioning itself to offer 24/7 blockchain-based stock trading. This service is slated to initially roll out to roughly 4 million users within JuCoin’s existing ecosystem. Zhou articulated the company's ambition to create an innovative platform that simplifies access and trading of tokenized U.S. equities for crypto users. Despite these promising developments, YYAI has faced an 84.44% loss year-to-date in 2025, with its stock price fluctuating between $0.18 and $8.49 over the past year. The company currently holds a market capitalization of $2.81 million, with an average daily trading volume of 16.82 million shares.
This strategic move by Connexa Sports Technologies, now AiRWA Inc., highlights the evolving landscape of technology and finance. By embracing blockchain and Web3, the company is not merely rebranding but is fundamentally redefining its mission and future direction. This pivot towards a more decentralized and technologically advanced financial ecosystem demonstrates foresight and an adaptive business model, aiming to leverage emerging technologies for significant growth and innovation in the global market.