The Hong Kong-listed company Boyaa Interactive plans to spend 90 million USD to purchase Bitcoin and Ethereum

2023-11-15 00:46:07

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ChainCatcher news, the announcement shows that China's largest online gaming company, Boyaa Interactive, will increase its holdings in cryptocurrency, specifically potential cryptocurrency purchases within a 12-month period starting from the date the ordinary resolution regarding the authorization and potential cryptocurrency purchases is formally approved at the shareholders' special meeting. This move can be seen as an important initiative for Boyaa Interactive's business layout and development in the Web3 field, and is also a significant part of the group's asset allocation strategy.

Currently, it is expected to purchase approximately $45 million in Bitcoin and $45 million in Ethereum, in addition to spending up to $10 million on purchasing USD stablecoins USDT and USDC. The potential cryptocurrency purchases will be conducted on the open market of regulated and licensed trading platforms, including but not limited to HashKey Exchange.

Boyaa Interactive may also continue to explore potential cryptocurrency purchases on other regulated and licensed trading platforms within the scope of the purchase authorization. In addition, the group has established a dedicated regulatory team that will regularly monitor the licensing and regulatory environment of trading platforms to ensure that the platforms used by the group are safe and recognized.

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