Wednesday, October 21, 2020

Ebang aims to set up digital financial platform in New Zealand

Must Read

Retail investors will ‘undoubtedly’ move to Bitcoin, says Fidelity

Fidelity Digital Assets, the cryptocurrency custody and execution arm of United States financial services giant Fidelity, has claimed in a new report that retail...

Game theory meets DeFi: Bouncing ideas around tokenomic design

Jack Lu, 23, was struck by the idea for his new DeFi platform Bounce while working on his thesis on game theory and cryptocurrency...

Ebang, a major Chinese Bitcoin (BTC) mining equipment supplier, is planning to acquire a financial firm in New Zealand to set up a local digital asset financial service platform.

According to an official announcement on Oct. 14, Ebang International Holdings has entered an Expression of Interest tender letter to acquire a 100% share of an unnamed company. The New Zealand-based firm offers wholesale and generic financial brokerage and wealth management services, the announcement notes.

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.”

Ebang CEO Dong Hu 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.”

Ebang executives did not immediately reply to Cointelegraph’s request to comment on the news.

Ebang went public on Nasdaq in June 2020. 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.

Popular This Week

Bitcoiners Have Trillions and Trillions of Reasons to Ignore US Election

The outcome of next month’s U.S. presidential election may not matter much for bitcoin’s price: Economic stimulus in the trillions of dollars is likely no matter who...

Breitling Goes Live With Ethereum-Based System to Put All New Watches on the Blockchain

The actual Breitling watch given to James Bond in the 1965 film “Thunderball” (it had a built-in Geiger counter) apparently wound up being sold...

Ethereum’s Vitalik Buterin Calls on Power Users to Move to Layer 2 Scaling

In the face of Ethereum’s recent rocketing transaction fees, its founder and chief scientist, Vitalik Buterin, called on users of the second-largest blockchain to...

Global shipping leaders join IBM and Maersk blockchain platform

Two of the world’s largest container carriers announced a full integration onto IBM and Maersk’s TradeLens blockchain platform. CMA CGM, a French container and...

Bitcoin Decoupling, Binance Jersey, ETH 2.0 Weeks Away, Filecoin Trouble & 80% In Bitcoin

NEW CHANNEL: https://www.youtube.com/channel/UCH9HlTrjyLmLRS0iE1P4rrg I also play video games! https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ------------------------------------------ Rich Dad Poor Dad: https://amzn.to/3cKJ4Ia Computer I Use To Record: https://amzn.to/2V2F3bn Headphones I Use: https://amzn.to/3ccAUrf Chair I use: https://amzn.to/2XpUmg5 My Desk: https://amzn.to/3ei7mtZ I love this Mic: https://amzn.to/2yUElV9 ---------------------------------------------------------------------------- Support Me On Patreon! https://www.patreon.com/TheModernInvestor ---------------------------------------------------------------------------- Protect...

HUGE CRYPTO NEWS!!! Polkadot DOT, Cardano ADA, Crypto.com CRO, Bittorrent BTT

In today’s crypto news we discuss news from the past week of some of the largest altcoins in the market. We talk about Cardano’s goguen...

BitMEX charges send ‘a message’ to global exchanges: Crypto Mom

United States Securities and Exchange Commissioner Hester Peirce — better known as “Crypto Mom” — believes the recent action against BitMEX may be a...

China’s Digital Yuan Blurs the Lines Between CBDCs and Crypto

Central Bank Digital Currencies (CBDCs) are rapidly gaining prominence in discussions around the future of money. The many dimensions of debate, whether policy, economic...