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 https://t.co/VdUD758oO4 — 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