Hong Kong Investment Fund Bought Chinese BTC Giant BTCC

The funds received as a result of the transaction will be used to expand the international presence of the conglomerate after leaving the Chinese market
30 January 2018   497

The Chinese bitcoin-giant BTCC was bought by an unnamed investment fund from Hong Kong. This is reported by IBTimes.

We currently aren't releasing the information on the fund nor the amount of resources raised.
 

BTCC Spokeswoman 

Only in 2017, the BTCC mining pool generated nearly $ 900 million in bitcoins, while the company's own currency exchange accounted for more than $ 25 billion. Also, last year, BTCC launched its own mobile Mobi wallet, which, according to the company, already has users more than in 180 countries of the world.

Today's acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I'm very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.
 

Bobby Lee

Co-founder, BTCC

As added by the BTCC, in the future the company will focus on three main areas of work: the international mining pool, the Mobi wallet and the US dollar-based exchange.

Updated BTCC Launched

Ex-largest Chinese cryptocurrency exchanges comes back with a lot of new interesting features
02 July 2018   376

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.