Ebang - one of the largest manufacturers of mining equipment - launches its cryptocurrency exchange.
The Chinese company is known to be planninglaunch the exchange before the end of the first quarter of 2021. Preparations for public testing are already underway, and a private subsidiary is registered in Australia to launch the exchange.
Ebang is committed to increasing revenue streams and expanding its business. The launch of the exchange could double the company's revenue, according to Chen Lei, the firm's chief financial officer.
Ebang has already registered a subsidiary inAustralia as part of a strategy to expand its services. Hence, the firm will launch a cryptocurrency exchange first in the Australian jurisdiction. Back in October 2020, Ebang acquired a licensed broker and asset manager from New Zealand and opened another branch in Singapore to create a global exchange.
After the announcement of the creation of a cryptocurrency exchange, the company's shares listed on the NASDAQ rose 23%.
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