A bitcoin exchange called BTCC, formerly known as BTC China, closed its doors at the end of September last year, after the Chinese government introduced the ban of all the cryptocurrency exchanges in the country. Now, the news about the acquisition of the cryptocurrency exchange by an unknown investment fund from Hong Kong appeared a week ago. The terms of the acquisition are yet to be disclosed. Calvin Cheng, an advisor for the still unknown investment fund, said the company was pleased with the acquisition of the China’s largest bitcoin exchange.
According to a statement issued by BTCC, the company will now focus on three main market spheres, the international BTCC mining pool, Mobi wallet and its own cryptocurrency exchange.
Bobby Lee, the co-founder of BTCC, expressed his optimism for the future of the company after the acquisition. Lee said: “I am very excited because of the resources that make BTCC move faster and aggressively develop its companies in 2018 and further.”
The company faced numerous problems after the ban of the cryptocurrency exchanges and the trading of cryptocurrencies by the Chinese government in September last year. After the ban, the company moved out of Shanghai and established its headquarters in Hong Kong.
The capital from the new owner will definitely help to fund the future operations of BTCC and refresh its brand.