Chinese Marketing Company Aurora Mobile Plans to Adopt Crypto Treasury
The Shenzhen, China-based company's board approved an initiative to convert up to 20% its cash and cash equivalents into bitcoin and other digital assets
- Aurora Mobile, a Nasdaq-listed marketing technology provider, is the latest publicly-traded company to plan a treasury strategy focused on crypto assets.
- The company's board approved an initiative to convert up to 20% its cash and cash equivalents into bitcoin and other digital assets.
- Aurora shares jumped in pre-market trading following the announcement.
Aurora Mobile (JG), a Nasdaq-listed marketing technology provider, is the latest publicly traded company to plan a treasury strategy that includes cryptocurrency investments.
The Shenzhen, China-based company's board approved an initiative to convert up to 20% its cash and cash equivalents into BTC and other digital assets. The investments may include bitcoin
Aurora aims to "preserve and enhance asset value while supporting its strategy to expand market coverage," it said in a statement.
In its latest quarterly earnings report, Aurora reported cash, cash equivalents and restricted cash totaling 113.6 million yuan ($15.8 million), suggesting it could invest some $3 million in bitcoin and other crypto.
The strategy emulates that of multiple other companies that have revealed plans to acquire bitcoin in recent weeks.
The company's shares jumped in pre-market trading following the announcement, trading nearly 10% higher at $12.10.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
