BTCC May Sell Pool's Stake for $17M

Potencial buyer is Value Convergence (VC) Holdings Limited – a Hong Kong-based financial service firm
25 June 2018   325

The BTCC's mining unit gave consent for the sale of 49% of its shares. This is reported by Coindesk.

The transaction amount is 147 million Hong Kong dollars (17 million US dollars) if its participants sign the final agreement. The potencial buyer is Value Convergence (VC) Holdings Limited.

The protocol of mutual understanding does not impose legal obligations on its participants, and the terms of the deal are subject to further discussion.

VC Group provides brokerage services in the securities sector and manages assets. The firm said that it aims to expand its presence in the fintech sector.

In January, it became known that BTCC was bought by the Hong Kong investment fund.

Updated BTCC Launched

Ex-largest Chinese cryptocurrency exchanges comes back with a lot of new interesting features
02 July 2018   335

The oldest BTCC exchange, which for some time was one of the largest in China, announced the restart of its rading platform, as well as plans for the release of its own tokens. This is reported on the company's website.

According to the company representatives, the exchange has already started its work. Trading pairs with Ethereum, Litecoin and Bitcoin Cash can be traded against both bitcoin and the US dollar.

Also, on the updated exchange, a reward system is implemented. Points will be granted for registration, the subsequent verification of the account, the deposit of funds and trading activity. The accumulated points can then be converted into BTCC's tokens, which will also be used on the trading platform.

The exact timeframe for the release of the new token is still unknown. However, representatives of the company said that their release will be implemented within the "next few months". Also, BTCC has not yet decided on the volume of the offer and the proportion, according to which points will be converted into tokens.

First three months there's gonna be a zero fee. Representatives of BTCC also said that in the future it is planned to add other crypto-currency assets, as well as ERC-20 tokens.

The company announced plans to restart the BTCC platform at the end of May. At the same time, it became known about a multi-level and multi-cluster system with an optimized high-speed engine, as well as crypto-currency services offered by traders.

The BTCChina exchange was closed in September 2017 after repressive measures by the Chinese authorities. BTCC, however, continued its activities, focusing on the mining pool and Mobi cryptocurrency wallet.