Boyaa Interactive, China's largest online chess and card game company, has announced plans to increase its holdings in cryptocurrency. As per the Hong Kong Stock Exchange announcement on November 15, the company is slated to purchase approximately $45 million each in Bitcoin and Ethereum, along with up to $10 million in USD stablecoins like USDT and USDC.
The company revealed that these crypto purchases are to be executed on regulated and licensed public market trading platforms, including HashKey Exchange. HashKey, operated by Hash Blockchain Limited, is a licensed virtual asset trading platform by the Hong Kong Securities and Futures Commission (CE Reference: BPL992).
Boyaa Interactive could also eye other regulated and licensed trading platforms for additional cryptocurrency purchases within the authorized purchasing scope. To ensure safety and compliance, the company has set up a dedicated regulatory team tasked with consistently monitoring the regulatory environment of trading platforms.
BlockBeat previously reported that Boyaa Interactive's board of directors had approved a budget of $5 million for crypto purchases on regulated trading platforms within the coming year. This significant increase to $90 million will derive funding from the group's operational cash reserves in Hong Kong and international markets.
