Mega Matrix Inc. announced on September 4 that it has filed a $2 billion universal shelf registration statement with the U.S. Securities and Exchange Commission to provide financing flexibility for its stablecoin governance token strategy.
The filing, submitted on Form F-3, would allow the Singapore-based company to issue and sell a mix of securities over time, including Class A ordinary shares, preferred shares, debt securities, warrants, and units. The registration has been filed but is not yet effective.
Focus on Stablecoin Governance Tokens
Mega Matrix said proceeds from future offerings under the shelf registration may be directed toward building positions in stablecoin governance tokens, such as Ethena’s $ENA, which the company identified last week as a core part of its accumulation strategy.
Company executives described governance tokens as a form of equity in decentralised stablecoin ecosystems, noting that acquiring them provides both investment exposure and influence in protocol governance.
“The universal shelf registration, once effective, provides flexibility to support our DAT strategy in this new era,” the company said in a statement, referring to its stablecoin governance token accumulation plan.
SEC Review Pending
Under the shelf registration, Mega Matrix could raise capital in multiple offerings, subject to market conditions, capital needs, and regulatory limitations. The specific terms and pricing of any securities sales would be disclosed in separate prospectus supplements filed with the SEC at the time of each offering.
No securities may be sold until the SEC declares the registration effective. The company noted that the timing and scale of any offerings would depend on prevailing market conditions and investor demand.
Positioning in the Digital Asset Market
The move comes as digital asset firms increasingly seek exposure to governance tokens, which carry both financial and decision-making rights in blockchain-based networks. By pursuing strategic acquisitions of such tokens, Mega Matrix aims to expand its role in shaping stablecoin ecosystems while building a portfolio tied to the development of decentralised finance.
