Controlling shareholder of Huobi Global will sell all of its shares to About Capital
As a majority stakeholder, About Capital intends to fuel Huobi’s international brand promotion and business expansion among other initiatives.
Crypto exchange Huobi Global announced that About Capital Management (HK) Co. Ltd, an Hong Kong based-asset management firm became the exchange’s controlling shareholder following a successful buyout deal.
While the transaction of an undisclosed amount crowns About Capital as Huobi’s new controlling shareholder, the exchange stated that core operation and business management teams would have no impact due to the transition.
As a majority stakeholder, About Capital intends to fuel Huobi’s international brand promotion and business expansion initiatives, adding that:
“Upon successful implementation of the initiatives, Huobi Global will be well positioned to provide first-class trading and investment services to international investors.”
About Capitals also disclosed plans to build a global strategic advisory board “led by leading industry figures” among other initiatives such as setting up margin and risk provision fund, and measures to enhance the exchange’s competitiveness.
Previously, in August, Sam Bankman-Fried, the CEO of crypto exchange FTX, denied a Bloomberg report that claimed FTX was planning to purchase Huobi. Huobi concluded the announcement by highlighting its exit from China.
Related: Huobi to delist Monero and other privacy coins, citing regulatory pressures
On Sept. 14, Huobi Global became the third major cryptocurrency exchange to pen 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 for the Busan Digital Currency Exchange. In addition, Huobi is also set to assist in identifying and hiring blockchain talent for Busan’s local exchange.
As a majority stakeholder, About Capital intends to drive Huobis global emblem merchandising and commercial enterprise enlargement, amongst other tasks.
Following a successful buyout deal, Huobi Global announced that About Capital Management (HK) Co. Ltd, a Hong Kong-based asset management company, has become the trade’s controlling shareholder.
While the transaction of an undisclosed quantity crowns About Capital as Huobis new controlling shareholder, the trade said that center operation and commercial enterprise control groups could have no effect because of the transition.
As a majority stakeholder, About Capital intends to support Huobis global emblem merchandising and commercial enterprise enlargement tasks, including that:
Upon a successful implementation of the tasks, Huobi Global could be properly located to offer the best buying and selling and funding offerings to global investors.
About Capitals also revealed plans to create an international strategic advisory board “led by using key business figures,” in addition to other initiatives such as establishing margin and risk provision funds and measures to improve the trade’s competitiveness.
Previously, in August, Sam Bankman-Fried, the CEO of crypto trade FTX, denied a Bloomberg file that claimed FTX was making plans to buy Huobi. Huobi concluded the assertion with the aid of using highlighting to highlight its go out from China.
On Sept. 14, Huobi Global became the 0.33 fundamental cryptocurrency trader to pen a blockchain atmosphere improvement settlement with the South Korean metropolis of Busan.
According to a professional assertion from Huobi, the partnership will see the enterprise offer studies and development, technical and economic assistance for the Busan Digital Currency Exchange. In addition, Huobi is likewise set to help in figuring out and hiring blockchain skills for Busan’s nearby trade.