Recently it was learned that an investment firm based in Hong Kong acquired commercially from BTCC , a company that owns one of the oldest exchange houses in the world, whose exchange operations in China ceased last September.
The investment fund, still unknown, specializes in the blockchain sector and seeks to give BTCC a greater projection to promote the adoption of cryptocurrencies worldwide, as indicated in an official publication . Due to the closure of the exchange house by the Chinese government, BTCC is directing its efforts to position itself internationally.
The co-founder and CEO of BTCC, Bobby Lee , issued a message on Twitter where he stated that this acquisition was a great achievement for the Chinese exchange house and a return on his work for the rest of 2018.
Today’s acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I’m excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond! 😀😀😀 https://t.co/XbAHM6WKKi
— Bobby Lee (@bobbyclee) January 29, 2018
Calvin Cheng, an entrepreneur and exparlamentario of Singapore, who is also an advisor to the investment fund that acquired BTCC , praised this company and assured that they will also seek international success. “We are honored to have been able to acquire BTCC. BTCC has an unparalleled brand and reputation, and we hope to take it to greater heights of success internationally, “he said.
The BTCC company is not only dedicated to the exchange of cryptocurrencies. It has created subsidiaries in charge of being mining pools ( BTCC Pool ), as well as launched an online portfolio and the Mobi portfolio , with availability of more than 100 cryptoactives (which can be installed on iOS and Android).
With this acquisition, the company will obtain an injection of capital for its projection on an international scale and for its main products. BTCC Pool will be led by Denver Zhao, Mobi by Mark Ma and the BTCC exchange house by Aaron Choi. Lee added: “The resources we will obtain and the new set of experienced and talented executives who will join the BTCC team drives us to lead each segment of the digital currency ecosystem, including pooling, payments and exchanges.”
During last September, Lee said that in his view it was only a matter of time before China’s financial authorities lifted the ban on local cryptocurrency exchange houses, warning that “the more governments and regulators try to put pressure on bitcoin , more we see that bitcoin is resistant “. Since its operations in Shanghai ceased , BTCC established itself in Hong Kong seeking financial freedoms and new possibilities for its business.