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Ebang Plans To Acquire A Financial Firm In New Zealand

Ebang, the major Chinese Bitcoin mining equipment supplier, has planned to acquire a financial firm in New Zealand to set up a local digital asset financial service platform.

It has been reported in an official announcement that Ebang International Holdings has entered an Expression of Interest tender letter to acquire a 100% share of an unnamed company.

However, the firm offers wholesale and generic financial brokerage and wealth management services.

Major Chinese #crypto mining hardware maker Ebang is planning to acquire a financial firm in New Zealand to set up a digital asset financial service platform — Cointelegraph (@Cointelegraph) October 15, 2020

Ebang representatives emphasized that the potential deal is subject to the “negotiation of a definitive agreement among the relevant parties” while the acquisition is not yet finalized.

The firm stated:

“There is no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated in time, or at all.”

Dong Hu, the CEO of Ebang, said:

“Leveraging our longstanding expertise in the blockchain technology and our recent expansions to Singapore, Canada and New Zealand, we have taken a giant stride toward our goal to build a fully-licensed, Internet-based trading platform that provides professional, convenient and innovative trading services.”

Likewise, Ebang went public on Nasdaq in June 2020.

Thus, the firm wants to set up a wide array of crypto-related services, including crypto mining farms, pools, digital asset financial service platforms, and others.

Source: Cointelegraph



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