RYDE News & Events

Ryde Group has signed a Memorandum of Understanding with VinaTaxi, a licensed taxi operator in Vietnam, to explore potential strategic collaboration opportunities in Vietnam's fast-growing mobility and electric transport market. Under the MOU, Ryde and VinaTaxi will explore a potential collaboration framework to modernise and enhance mobility services in Vietnam. The discussions will focus on leveraging Ryde's proprietary ride-hailing technology and VinaTaxi's established operational fleet to assess opportunities across both four-wheel and two-wheel mobility segments. The areas of exploration include the potential deployment of Ryde's platform within VinaTaxi's existing taxi fleet, the development of an electric motorcycle ride-hailing ecosystem tailored to Vietnam's unique urban transport landscape, and the phased introduction of electric vehicles to support long-term sustainability objectives.

Ryde Group announced its adoption of a Digital Asset Treasury, or DAT, Strategy. This framework reflects the Company's intention to evaluate digital assets as part of its broader treasury management approach and long-term balance sheet planning. In response to the evolving macroeconomic environment, Ryde is reviewing ways to diversify and modernize its corporate treasury while supporting long-term balance sheet resilience. Under the DAT framework, the Company may allocate a portion of its corporate reserves into digital assets, including Bitcoin, or BTC, Ethereum, or ETH, and Solana, with allocation size and timing subject to market conditions and the Company's internal governance procedures and approval processes. This initiative is intended to provide Ryde with additional flexibility in how it manages its treasury reserves, while maintaining a focus on prudent capital management and risk oversight. The governance structure includes two specialized oversight bodies: a Digital Asset Investment Committee, or DAIC, Responsible for reviewing strategic asset allocation, portfolio construction, and capital deployment approvals; and a Digital Asset Compliance and Risk Committee, or DACRC, responsible for overseeing operational controls, regulatory compliance, counterparty review, and ongoing portfolio risk monitoring.

Ryde Group announced it has received a warning letter from NYSE American regarding the company's compliance with Section 401(a) of the NYSE American company guide. On October 7, NYSE Regulation staff noted a significant increase in Ryde's stock price and an unusually large volume of trading activity in the company's stock. That day, NYSE Regulation staff contacted the company to inquire whether the company was aware of any information that could explain this activity. The company responded to NYSE Regulation's inquiry late on the evening of October 7, indicating that they were not aware of any information that could have given rise to the unusual trading activity. However, on October 9, the company filed a Form 6-K with the SEC, which disclosed a material transaction that had been entered into on October 7 in Singapore. Because this material transaction was entered into on October 6, the exchange's immediate release policy required the transaction to be disclosed before the commencement of trading on the exchange on October 7. As such, the company's failure to make an immediate public disclosure of the execution of the transaction agreement constitutes a violation of Section 401 of the company guide. In accordance with Section 1009 of the company guide, NYSE Regulation is issuing this warning letter in response to that violation.