Yunfeng Financial Group, the firm of financial services that are quoted in Hong Kong, linked to Jack Ma, bought 10,000 Ethereum (ETH) for a value of approximately $ 44 million to start building an ETH Treasury, revealed the presentations published on September 2.
The acquisition marked Yunfeng’s entry into the growing tendency of public companies that adopt cryptographic treasury strategies, a playing book popularized by strategy with Bitcoin (BTC).
Companies such as Sharplink Gaming and Bitmine have taken similar steps in recent months, betting on ETH as part of long -term general balance management.
Yunfeng, which provides services, including insurance, brokerage and asset management, said the purchase of Ethereum will help reduce its dependence on traditional currencies while supporting its technological expansion on web3, real world assets, digital currencies and IA.
The company announced its broader strategy in July as part of a pivot towards next -generation financial infrastructure. The firm is the majority property of Yunfeng Capital, based in Shanghai, the private capital group co -founded in 2010 by MA, who also helped launch Ant Group and Alibaba.
Yunfeng’s entry into crypto treasures indicates how Asia headquarters are beginning to adopt digital assets in corporate finance strategies that go beyond speculative trade.
Yunfeng Financial’s shares increased 9.55% after the ad and closed the day by 3.67 dollars from Hong Kong (47 EE cents. UU.).
The measure adds impulse to the growing role of ETH in the corporate treasure bonds, with more companies that seek to diversify away from fiduciar and integrate the infrastructure based on blockchain into their businesses.
Ethereum is the second largest cryptocurrency in the world for market value, and the adoption of treasure by traded companies is considered a sign of deepening institutional acceptance.
According to crypto data, Ethereum was quoted at $ 4,264 at the time of publication, 2.12% less than the last 24 hours.
