11:29 AM EDT, 04/01/2025 (MT Newswires) -- Freight Technologies ( FRGT ) said Tuesday it had entered a securities purchase agreement with Fetch Compute to purchase $5.2 million worth of FET cryptocurrency tokens in exchange for 2.3 million Series A4 shares of the company.

The decision to acquire FET tokens will allow Freight Technologies ( FRGT ) to participate in decentralized machine learning platform Fetch.ai's AI ecosystem for a competitive edge in the logistics industry, the company stated.

It added that the token purchase creates asset diversification and enables Freight Technologies ( FRGT ) to introduce crypto in the over-the-road carrier and logistics market.