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Kaixin Holdings (KXIN) announced the establishment of a Digital Asset Management Department to acquire cryptocurrencies including Bitcoin and Ethereum as part of a new asset allocation strategy.
The Beijing-based company said the department will raise funds to purchase digital assets and implement allocation strategies aimed at diversifying traditional business risks. The move represents Kaixin’s entry into cryptocurrency investments as an institutional player.
According to the company’s statement, the strategy seeks to leverage digital asset market properties for potential long-term returns and diversified asset value. Kaixin cited the growing acceptance of cryptocurrencies among investment institutions and financial technology companies as rationale for the initiative.
The company indicated it plans to explore opportunities for new strategic investors and potential acquisitions of projects in the Web3 industry. These efforts aim to optimize equity structure and business operations.
As of the announcement date, Kaixin Holdings has 27,258,228 ordinary shares outstanding, comprising 22,158,228 Class A ordinary shares and 5,100,000 Class B ordinary shares.
Kaixin Holdings operates as an AI-driven technology business in China, developing online live streaming education platforms through its XINGCAN division. The company serves both domestic and international markets and has been expanding its artificial intelligence capabilities into new business areas.
The information is based on a company press release statement.