Jiuzi’s board endorses crypto asset investment policy allowing up to $1B deployment

* Jiuzi Holdings (NASDAQ:JZXN [https://seekingalpha.com/symbol/JZXN]) said on Wednesday that its board has formally approved and adopted [https://seekingalpha.com/pr/20242483-following-the-appointment-of-dr-doug-buerger-as-coo-jiuzi-holdings-inc-s-board-endorses] a Crypto Asset Investment Policy.
* This policy authorizes the company to allocate portions of its cash reserves into select crypto assets within a risk management framework.
* This strategic initiative follows the recent appointment of industry-renowned crypto expert Doug Buerger as Chief Operating Officer (COO [https://seekingalpha.com/symbol/COO]).
* The board has authorized the company to deploy up to US$1B in funds for purchasing crypto assets, ensuring controlled exposure to risk.
* In its initial phase, investments will be limited to Bitcoin (BTC [https://seekingalpha.com/symbol/BTC]), Ethereum (ETH [https://seekingalpha.com/symbol/ETH]), and BNB. The company will not self-custody acquired crypto assets.
* A "Crypto Asset Risk Committee" has been established under the leadership of CFO Huijie Gao. This committee will oversee policy implementation and report regularly to the board.

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* Jiuzi stock jumps on COO appointment to lead digital currency treasury strategy [https://seekingalpha.com/news/4497597-jiuzi-stock-jumps-on-coo-appointment-to-lead-digital-currency-treasury-strategy]
* Financial information for Jiuzi Holdings [https://seekingalpha.com/symbol/JZXN/income-statement]