China's largest online chess and card game company, Boyaa Interactive, plans to spend $90 million to purchase Bitcoin and Ethereum.

According to an announcement from the Hong Kong Stock Exchange on November 15th, China's largest chess and card game company, Boyaa Interactive, will increase its holdings of cryptocurrency. It is expected to purchase approximately $45 million worth of Bitcoin and $45 million worth of Ethereum, and up to $10 million worth of USD stablecoins, including USDT and USDC. The potential cryptocurrency purchases will be conducted on regulated and licensed trading platforms in the public market, including but not limited to HashKey Exchange. HashKey Exchange is a virtual asset trading platform operated by Hash Blockchain Limited, a licensed virtual asset trading platform operator by the Hong Kong Securities and Futures Commission (CE Reference: BPL992). Boyaa Interactive may also continue to explore potential cryptocurrency purchases on other regulated and licensed trading platforms within the authorized scope of purchase. In addition, the company has established a dedicated regulatory team to regularly monitor the issuance and regulatory environment of trading platforms, and ensure that the platforms used by the company are safe and recognized. As previously reported by BlockBeat, on August 11th, Boyaa Interactive announced that its board of directors had approved a budget of $5 million for the group to purchase cryptocurrencies on regulated and licensed trading platforms within the next year. The main cryptocurrencies included are Bitcoin and Ethereum. The funds for the cryptocurrency purchases come from the group's cash reserves generated from its operations in Hong Kong and overseas.