KindlyMD forms strategic partnership with Antalpha

KindlyMD, Inc., a provider of integrated healthcare services and a provider of Bitcoin financial vehicles through its subsidiary Nakamoto Holdings; (NASDAQ:NAKA) is partnering with Antalpha (NASDAQ:ANTA).

Antalpha is a fintech company specializing in financing, technology and risk management solutions for the digital asset industry.

A key element of the partnership is a non-binding letter of intent in which Nakamoto plans to issue $250 million in five-year secured convertible notes to Antalfa.

Convertible notes are intended to provide long-term financing due to the lower risk of shareholder dilution compared to standard convertible debt.

Proceeds will also be used to expand Nakamoto Bitcoin Treasury’s Bitcoin holdings, fund general corporate purposes, and replace a $220 million Bitcoin-backed credit facility from two Prime Lending Limited.

Pending completion of the convertible debt facility, Antalpha will provide an interim Bitcoin-backed loan to support KindlyMD’s financial operations.

Bitcoin Treasury Adoption

This collaboration is designed to develop innovative funding structures for companies that hold Bitcoin as a financial asset and support the widespread adoption of Bitcoin by public companies.

Having established a leadership position in Bitcoin mining supply chain financial services, Antalpha is expanding its expertise beyond mining to serve organizations that manage Bitcoin as a protected asset.

The company’s leadership emphasized the strategic importance of partnerships that are consistent with its long-term vision. Chairman and CEO David Bailey describes the collaboration as “the power of Bitcoin companies to support Bitcoin companies,” highlighting the intention to not only meet current funding needs, but also create a framework for future initiatives that will benefit both the company and the broader Bitcoin ecosystem.

From Antalfa’s perspective, the partnership reflects a shared vision of Bitcoin’s role in corporate finance strategy.

Dr. Derar Islim, COO and CEO of Antalpha Americas & EMEA, said the company is focused on bridging the gap between traditional financial structures and the reality of managing Bitcoin reserves. This agreement represents the first step in a continued collaboration to develop solutions for large financial companies.

This announcement follows a September 15 shareholder letter from Bailey that emphasized aligning shareholders and financial partners to support KindlyMD’s long-term investment strategy.

The company has since moved away from previous funding arrangements that were not fully aligned with this strategy, and is instead focusing on partners that share its commitment to long-term growth and Bitcoin adoption.

Disclosure: Nakamoto is working with Bitcoin Magazine’s parent company, BTC Inc, to create the first global network of Bitcoin Treasury Companies, where BTC Inc will provide certain marketing services to Nakamoto. More information on this can be found here.