The Huobi cryptocurrency exchange is no longer owned by Ted Chen who was the majority shareholder. Now, Huobi is majority-owned by About Capital, another investment company headquartered in Hong Kong. This information was revealed by Huobi who also gave some details about the upcoming activities of this crypto exchange in the global market.
Asian Cryptocurrency Exchange Huobi Changes Ownership
Created by Ted Chen who was also behind the creation of Greenwoods Asset Management, the Huobi digital currency exchange is sold.
Indeed, this information confirms the rumors that its founder Leon Li Lin was looking for a buyer to sell it for 1 billion US dollars. A sale that would bring the net worth of the Huobi company to 3 billion US dollars.
True, Huobi has been sold. However, it should be noted that the company had no financial management problems. In other words, Huobi was not bankrupt.
Moreover, the change of shareholder within Huobi company had no impact on the operation of the platform. Operations with the withdrawal, deposit and purchase of virtual currencies are always carried out without interruption.
In addition, the company said it wanted to focus on a policy of expanding its business globally.
Thus, for the implementation of this new strategy, the company announced the creation of an international strategic advisory board. This council will be made up of influential figures in the field of digital assets.
Still in the same perspective, Huobi plans to set up a risk provisioning fund to facilitate the injection of capital.
Huobi is planning an invasion of the cryptocurrency market on an international scale
Huobi Global is a company founded in 2013. Despite the ban on the use of virtual currencies in China (find out the only crypto currency in China: digital yuan), this crypto platform took advantage of the cryptocurrency boom in the Chinese market to dominate the entire Asian market.
However, the company does not intend to continue its activities in China. This is because following the Chinese government’s ban, Huobi faced regulatory barriers that caused a significant drop in revenue. This is what prompted the company to lay off a large part of its employees in China.
But since then, Huobi Global has picked up the slack. Indeed, the next objective of the company according to its new owner is to open up quickly to the international market. For some, this is a late foray into the global market.
However, Huobi Global does not see things the same way since it intends to make a place for itself in the crypto trading platform market And this ; even if the task does not look easy for the company. However, the new leaders do not intend to give up.
Indeed, under the new management, the company has planned to carry out concrete actions to convince new investors all over the world. And obviously, investors from China will not be the most sought after.
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