Meitu invested $ 17.5 million in BTC and $ 22 million in ETH

On March 5, the developer of the popular smartphone app MeituPic purchased cryptocurrency on the open market forits reserve.

And while representatives of the firm said they invested in cryptocurrency to diversify assets, they also stated:

More importantly, the board of directors sees this as a demonstration that the Meitu Group is preparing to become one of the players in the blockchain industry.

Meitu acquired 15,000 ETH and 379.1 BTC.According to the statement, the company plans to implement blockchain technology in some of its services, and will also develop its decentralized applications on Ethereum.

Subscribe to ForkNews on Telegram to keep abreast of news from the world of cryptocurrencies

Based on materialswww.coindesk.com