Yunfeng Financial Group, the financial service company listed in Hong Kong, linked to Jack Ma, bought 10,000 Ethereum (ETH) worth around $ 44 million to start building an ETH treasure, revealed the documents published on September 2.
The acquisition marked the entry of Yunfeng into the growing trend of public societies adopting cryptographic cash strategies, a game book popularized by a strategy with Bitcoin (BTC).
Companies such as Sharplink Gaming and Bitmin have taken similar measures in recent months, betting on ETH in the long -term management of the balance sheet.
Yunfeng, which provides services such as insurance, brokerage and asset management, said that the purchase of Ethereum will help reduce its dependence on traditional currencies while supporting its technological expansion in the web3, active real world, digital currencies and AI.
The company unveiled its wider strategy in July as part of a pivot to the new generation financial infrastructure. The company belongs to the majority owned by Yunfeng Capital, based in Shanghai, the investment capital group co-founded in 2010 by MA, which also helped launch Ant Group and Alibaba.
The entry of Yunfeng into cryptographic treasury bills indicates how companies based in Asia are starting to adopt digital assets in the financing strategies of companies that go beyond speculative trade.
Yunfeng Financial shares increased 9.55% after the announcement and closed the day to 3.67 dollars in Hong Kong (47 cents).
This decision adds momentum to the growing role of ETH in corporate treasury bills, with more companies seeking to diversify from Fiat and integrate infrastructures based on blockchain in their businesses.
Ethereum is the second global cryptocurrency by market value, and the adoption of the Treasury by listed companies is considered to be a signal for deepening institutional acceptance.
Based on cryptoslate data, Ethereum was negotiated at $ 4,264 from press time, down 2.12% in the last 24 hours.
