Mining machine giant Yibang International established a subsidiary in Singapore and is preparing to establish a cryptocurrency exchange

Cryptocurrency mining machine producer Ebon International announced the establishment of a new subsidiary in Singapore, which is preparing to establish a cryptocurrency trading platform. Hu Dong, Chairman and CEO of Ebon International, said that with the establishment of the Singapore subsidiary, the industrial chain will expand from providing equipment to providing transaction services. With the help of professional teams and industry experts, Yibang will establish a sound risk control system, formulate an excellent trading system, and provide investors with safe, fast and stable digital asset trading services through blockchain technology. Ebang looks forward to providing systematic support for the development of blockchain and maximizing value for shareholders. According to Lianwen previously quoted Bloomberg’s report, Yibang International plans to launch a Bitcoin exchange in 2020. Yibang International listed on NASDAQ in June and plans to sell 19,264,337 common shares at a price of US$5.23 per share. The total issuance scale is approximately US$100.75 million.