Ebang Launches Cryptocurrency Exchange in Q1 2021

​China-based blockchain technology company Ebang International Holdings Inc. recently announced that it plans to start public testing of its cryptocurrency exchange before its official launch in the first quarter of 2021. The latest move follows the completion of internal testing of the exchange.

Prior to the announcement, the company has raised $100 million initial public offering(IPO) via Nasdaq on June 26, 2020. It also founded a wholly-owned subsidiary in Australia in October to establish its presence in digital asset trading business. In addition, the mining rigs maker acquired a licensed New Zealand financial company in the same month, and set up a new subsidiary in Canada as well.

The crypto mining firm intended to run a global digital asset platform for the upstream and the downstream of blockchain and cryptocurrency industry value chains.

Mr. Dong Hu, Chairman and CEO of the Company, commented, “The completion of the internal testing of our cryptocurrency exchange is another step forward in expanding our blockchain financial services business. Meanwhile, we will also explore other business opportunities in the blockchain and cryptocurrency industry such as establishing mining farms and cryptocurrency mining to optimize the structure of our offerings in the blockchain industry value chain.”