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Ebang aims to build a digital financial platform in New Zealand

October 15, 2020

Ebang, a major Chinese provider of Bitcoin (BTC) mining equipment, plans to acquire a financial company in New Zealand to build a local platform for financial services for digital assets.

According to an official announcement on October 14, Ebang International Holdings has filed a tender letter to acquire a 100% stake in an unidentified company. The New Zealand based company provides generic and wholesale financial brokerage and wealth management servicessays the ad.

Ebang officials stressed that the potential deal would be “the subject of negotiation of a definitive agreement between the relevant parties” while the takeover is ongoing. The company stated:

“There is no guarantee that a definitive agreement will be reached or that the proposed transaction will be completed on time or at all.”

Ebang aims to build a digital financial platform in New Zealand
Ebang aims to build a digital financial platform in New Zealand

Ebong CEO Dong Hu said: “Building on our years of experience in blockchain technology and our recent expansions in Singapore, Canada and New Zealand, we have taken a giant step towards our goal of building a fully licensed internet-based trading platform that provides professional trading services. convenient and innovative. “

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

Ebang went public on Nasdaq in June 2020. The company aims to establish a wide range of cryptocurrency-related services, including crypto mining pools, pools, financial services platforms for digital assets, and others.