Bitcoin Miner Maker Ebang Launches Cryptocurrency Change

Publicly listed Ebang Worldwide (Nasdaq: EBON), a Bitcoin mining {hardware} producer, introduced on Monday the launch of its cryptocurrency change,

The brand new crypto change participant is providing each spot and margin buying and selling services and is barely permitting ‘certified buyers’ to register and commerce digital currencies. It’s now clear if it is going to be open for retail buyers as nicely sooner or later.

Commenting on the event, Ebang Chairman and CEO, Dong Hu, mentioned: “The official launch of our cryptocurrency change is the results of our persevering with funding in analysis and improvement. In recent times, we’ve made a substantial funding in R&D expertise recruiting, in addition to product innovation and iteration.” 

Diversifying Cryptocurrency Enterprise

The Hangzhou-based firm already revealed its plans of launching a crypto change late final 12 months. The corporate is working its worldwide cryptocurrency operations, together with its new change enterprise, from its Singapore-based entity.

Ebonex was working in beta since mid-March in an invite-only mode earlier than the entire launch. The change is itemizing quite a few prime digital currencies, together with Bitcoin, Ethereum, Chainlink, Polkadot and Litecoin.

Nevertheless, the corporate didn’t make clear the jurisdictional presence of the cryptocurrency change.

“The launch of our cryptocurrency change enterprise won’t solely broaden the income sources from our cryptocurrency enterprise but in addition optimize the event of our blockchain business chain,” Hu added.

Ebang is among the prime Bitcoin miners producers, lagging solely behind its different Chinese language rivals. The corporate went public final 12 months on a United States inventory change and is among the few publicly traded crypto firms. Nevertheless, buyers didn’t take the brand new crypto change launch positively because the shares of the corporate went down by virtually 5 p.c as of press time, for the reason that opening of the Monday market.

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