The board of directors of Hong Kong-listed company Yingyu has approved a budget of US$100 million to purchase cryptocurrencies.

According to BlockBeats news, on March 27, the interactive social platform Yingyu Universe (03700.HK) announced yesterday that its board of directors has approved a budget of US$100 million for the group to operate on any regulated and licensed trading platform in the next five years. To purchase cryptocurrencies, funding will come from its existing cash reserves. As of the time of the announcement, Yingyushu Group had not purchased any cryptocurrencies.