Jiuzi Holdings, a Hangzhou-based operator of new energy vehicle charging stations, said on Wednesday that its board has approved a new crypto treasury policy authorizing up to $1 billion in digital asset purchases.

The plan will initially cover bitcoin, ethereum, and BNB, with any expansion into other tokens requiring reassessment and additional board approval.

The company emphasized that it will not self-custody its holdings, but instead rely on external providers it considers top tier in security. Oversight will be conducted through a newly formed Crypto Asset Risk Committee led by Chief Financial Officer Huijie Gao, with regular reporting obligations to the board and public…

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