Ebang, a major supplier of Chinese Bitcoin (BTC) mining hardware, plans to acquire a New Zealand financial company to build a local financial services platform.

Ebang International Holdings has signed a tender letter expressing its desire to acquire 100% of the shares in an unspecified company, according to an official announcement on 14 October. The report says the New Zealand company provides wholesale and general brokerage and asset management services.

Ibang stressed that the potential agreement is subject to “negotiation of a final agreement between the parties involved” while awaiting the acquisition. The company stated:

“There is no guarantee that a final agreement will be reached or that the proposed transaction will be completed on time or at all.”
Ebang Dong Hu CEO said, “We are leveraging our decades-long experience in blockchain technology and our recent expansions in Singapore, Canada and New Zealand, and we have taken a major step towards our goal of fully licensed commerce over the Internet. Platform that provides professional, practical and innovative business services. ”

Ebang executives did not immediately respond to Cointelegraph’s request for comment.

Ebang was announced on the Nasdaq exchange in June 2020. The company wants to create a wide range of services related to cryptocurrencies, including cryptocurrency mining, aggregators, financial services platforms for digital assets, and more.

Source: CoinTelegraph