Ebang will launch a cryptocurrency exchange and mining

Chinese mining equipment manufacturer Ebang, which is set to list on Nasdaq today,plans to launch a cryptocurrency exchange and create mining centers.

As the representative told CointelegraphEbang in a recent interview, the company intends to take a leading position in the industry, creating a "global ecosystem of digital economy and blockchain." The company plans to launch a cryptocurrency exchange and mining centers:

“Soon we will create our own mining farmswith a flexible collaboration model, as well as mining pools for the sale of our computing power. In addition, we have already begun preparing to launch the cryptocurrency exchange. ”

In addition, the Hangzhou-based companywill “explore the application of blockchain in financial services, education and healthcare.” Ebang's listing on Nasdaq, which is scheduled for today, will help the firm achieve these plans. Listing on the stock exchange will supposedly increase brand awareness and “attract more talent.” This will also help launch a cryptocurrency exchange:

“Trust is the most important component at startupcryptocurrency exchanges, and a Nasdaq listed company regulated by the US Securities and Exchange Commission has the ability to strictly enforce laws and secure transactions. ”

The company's plans are documented in the application,Ebang filed for an IPO with the SEC, which talks about launching a cryptocurrency exchange “in foreign jurisdictions.” Although Ebang is based in China, where cryptocurrency trading is prohibited, its parent company is registered in the Cayman Islands.

According to the latest data, as part of the IPO, Ebang wants toraise from $ 106 million to $ 125 million, putting up for sale 19.3 million shares at a price of $ 4.5 to $ 6.5. If the IPO is successful, Ebang's market value could approach $ 800 million.

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