Nasdaq-listed Aurora Mobile (JG) announced Tuesday that its board has approved investing up to 20% of the company’s cash and cash equivalents in cryptocurrencies.
This strategic initiative is part of the company’s treasury management plan designed to grow its asset value while expanding market coverage, partnerships and ecosystem, Aurora said in the press release.
“We view this as a measured step towards modernizing our treasury management practices,” the company said.
The release stated that Aurora’s crypto investments may include bitcoin, Ethereum, Solana, Sui and other crypto assets.
Aurora Chairman and CEO Weidong Luo said he expects the crypto investment will enhance its portfolio by incorporating assets with low correlation with traditional markets, while helping it align with technological advancements in global finance.
Meanwhile, Aurora said in the release that the crypto investment initiative will not impact its core business operations or ongoing growth initiatives.
Founded in 2011, Aurora provides customer engagement and marketing technology services in China, developing various solutions using cloud computing and AI. Its Nasdaq stock rose 4.78% to $11.01 on Tuesday, according to Google Finance data. Aurora has a total market capitalization of $66.9 million.
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