BTCC, formally known as BTC China, has been obtained by a Hong Kong-based blockchain investment fund which anticipates to develop the company internationally.
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“Today’s acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years,” said Bobby Lee, the co-founder of BTCC in a press release.
“I’m very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond. This will give us impetus to lead every segment of the digital currency ecosystem, including the pool, payments, and exchange businesses.”
BTCC will now focus its products towards the global markets including the BTCC mining pool, Mobi, and its USD Exchange.
“Mobi, the global multi-currency wallet that we introduced in March 2017, now has customers from over 180+ countries,” said Mark Ma, BTCC Mobi Vice President.
“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.”
Other leading Chinese exchanges Okcoin and Huobi have already left the nation after strict regulations cripple the growing technology.
At press time, BTCC is responsible for 3.6 percent of the bitcoin network hashrate.