An unnamed Hong Kong-based blockchain investment fund has taken over bitcoin exchange BTCC for an undisclosed sum.
BTCC, previously called BTC China, has been operating since 2011. The company shuttered its China business in September 2017 owing to regulatory crackdown and created a base in Hong Kong.
Go deeper with GlobalData
The company now aims to focus on the international market and its key offerings: digital currency pool BTCC Pool, digital wallet Mobi, and USD Exchange.
BTCC Pool is headed by Denver Zhao, and Mobi by Mark Ma. Zhao has many years of experience in sales, while Ma has experience in product design at various firms including Alibaba.
Aaron Choi is in charge of the exchange service. Choi previously worked at RockYou, Tapjoy, and Chinapex.
BTCC co-founder Bobby Lee said: “Today’s acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I’m very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The capital injection we received today gives us a boost towards reaching our goal to grab a dominant market share in the payments and digital currency industries of each of those countries,” Ma said.
