Cryptocurrency Mining Firm and its Crypto Exchange

A cryptocurrency mining firm from China continues to expand its business. Ebang is a publicly listed company that provides mining hardware for cryptocurrencies like Bitcoin and this firm decided to launch its own crypto exchange. The firm’s announcement is full of interesting details. According to the firm, qualified investors will be soon able to register and trade on Ebang’s cryptocurrency exchange dubbed Ebonex.

The firm’s decision highlights its capabilities. In recent years, the firm invested money in R&D talent recruiting as well as product innovation and iteration. Thanks to its crypto exchange the firm will be able to fulfill two goals. Ebang will be able to expand revenue sources from its cryptocurrency business. Furthermore, it will optimize the development of its blockchain supply chain. Ebonex initially launched an invitation-only beta phase in mid-March.

Its cryptocurrency exchange supports major cryptocurrencies, such as Bitcoin, Ether, and stablecoin Tether. Moreover, other supported coins include Litecoin, Cardano, Zcash, Tezos, EOS, and Moreno.

Unfortunately, the announcement released by the firm does not include an important piece of information. The announcement did not mention which jurisdictions are eligible to trade on its new crypto exchange.

Cryptocurrency mining firm and notable achievements

Less than a year ago, Ebang was listed on the Nasdaq Global Market under the ticker EBON. It became the second Bitcoin mining manufacturer to go public on the U.S. stock exchange. The first firm that went public was the Chinese crypto mining firm Canaan.

Ebang entered the crypto market in early 2014 and began selling its own brand of mining equipment in December 2016. Several years ago, Zhejiang Ebang was on the National Equities Exchange and Quotations or NEEQ. It is a Beijing-based over-the-counter national securities trading market. However, soon after falling away from the NEEQ, the company incorporated Ebang International Holdings Inc., its current holding company.