Aurora Mobile, listed on Nasdaq, has announced a new reserve strategy that involves investing in several cryptocurrencies.
Cryptocurrency Reserve Strategy
Aurora Mobile has selected four cryptocurrencies for its reserve strategy: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and SUI. The company has approved investments of up to 20% of its cash and equivalents in the selected cryptocurrencies. According to the official statement, investments may include, but are not limited to, Bitcoin, Ethereum, Solana, SUI, and other tokens.
Comment from Aurora Mobile Chairman
Aurora Mobile Chairman Mr. Weidong Luo stated: "By investing in digital assets, we increase our portfolio diversification by gaining exposure to cryptocurrencies, an asset class with low correlation to traditional markets. We are also providing a foothold in forward-thinking innovation by keeping up with technological advances that are reshaping global finance."
Other Investment Moves from Chinese Firms
In light of the news from Aurora Mobile, another Chinese company, Nano Labs, announced new investments as well. They included Binance Coin (BNB) in their treasury strategy, signing a $500 million convertible note agreement for the purchase of BNB.
The investment decisions by Aurora Mobile and other Chinese companies highlight the growing interest of institutional investors in cryptocurrencies as a tool for asset diversification and the implementation of innovative practices.
