Yunfeng, which provides services including insurance, brokerage, and asset management, said the Ethereum purchase will help reduce its reliance on traditional currencies while supporting its technological expansion into Web3, real-world assets, digital currencies, and AI.
The company unveiled its broader strategy in July as part of a pivot toward next-generation financial infrastructure. The firm is majority owned by Shanghai-based Yunfeng Capital, the private equity group co-founded in 2010 by Ma, who also helped launch Ant Group and Alibaba.
Yunfeng’s entry into crypto treasuries indicates how Asia-based firms are beginning to adopt digital assets in corporate finance strategies that go beyond speculative trading.
Yunfeng Financial’s shares rose 9.55% following the announcement and closed the day at 3.67 Hong Kong dollars (47 U.S. cents).
Ethereum is the world’s second-largest cryptocurrency by market value, and treasury adoption by listed firms is seen as a signal of deepening institutional acceptance.
Based on CryptoSlate data, Ethereum was trading at $4,264 as of press time, down 2.12% over the past 24 hours.
