Yunfeng Financial Group Acquires 10,000 ETH for $44 Million Strategic Reserve

Hong Kong-listed Yunfeng Financial Group Limited, a financial services firm with ties to Alibaba founder Jack Ma, announced on September 2 its acquisition of 10,000 Ethereum (ETH) tokens, valued at approximately $44 million. The purchase, funded entirely from the company’s internal cash reserves, establishes ETH as a strategic reserve asset. As stated in a widely circulated social media post:

"JUST IN: 🚨 Jack Ma's (Alibaba founder) Yunfeng Financial Group Limited buys 10,000 ETH as 'reserve asset.'"

The company's board approved the cryptocurrency acquisition as part of its strategic roadmap, prioritizing expansion into Web3, real-world asset (RWA) tokenization, digital currency, and artificial intelligence. Yunfeng Financial emphasized that the ETH holdings will help diversify its asset base and reduce dependency on traditional fiat currencies. The acquired ETH will be reflected as an investment asset on Yunfeng’s balance sheet.

Yunfeng Financial Group, co-founded by Jack Ma, provides a range of financial services including brokerage, asset management, and insurance solutions across Asian markets. The firm’s decision to allocate a significant portion of its reserves to ETH aligns with its broader push into frontier technology and digital assets, as outlined in its July 2024 strategic plan. This move positions Yunfeng among a growing number of publicly traded firms treating Ethereum as a strategic asset.

The acquired ETH is intended to provide infrastructure support for RWA tokenization activities and facilitate broader integration of financial services with Web3 technologies. Yunfeng also plans to explore Ethereum’s potential applications within its insurance operations and decentralized finance (DeFi) initiatives. While Chinese authorities maintain restrictions on cryptocurrency trading, Yunfeng's acquisition through its Hong Kong-listed entity signals an evolving corporate approach to digital assets within the region's financial landscape.