As the majority shareholder, About Capital intends to promote the international promotion of the Huobi brand and business expansion, among other initiatives.
Cryptocurrency exchange Huobi Global has announced that About Capital Management (HK) Co. Ltd, a Hong Kong-based asset management company, has become the majority shareholder of the exchange following a successful purchase deal.
While the transaction for an undisclosed amount crowns About Capital as Huobi’s new majority shareholder, the exchange stated that the core business and operations management teams would not have any impact due to the transition.
As the majority shareholder, About Capital intends to further Huobi’s international brand promotion and business expansion initiatives.adding that:
“Following the successful implementation of the initiatives, Huobi Global will be well-positioned to provide world-class trading and investment services to international investors.”
About Capitals has also revealed its plans to create a global strategic advisory committee “led by leading figures in the industry”, among other initiatives, such as the creation of a margin and risk provision fund, and measures to improve the competitiveness of the exchange.
Earlier in August, Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, debunked a Bloomberg report that FTX was planning to buy Huobi. Huobi concluded the announcement by highlighting his departure from China.
On September 14, Huobi Global became the third major cryptocurrency exchange to sign a blockchain ecosystem development agreement with the South Korean city of Busan.
According to an official announcement from Huobi, the partnership will see the company provide research and development, technology, and financial support to the Busan Digital Currency Exchange. In addition, Huobi will also help identify and recruit blockchain talent for the local Busan stock exchange.
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