{"id":3928,"date":"2018-01-30T02:13:47","date_gmt":"2018-01-30T02:13:47","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=3928"},"modified":"2018-01-30T02:17:48","modified_gmt":"2018-01-30T02:17:48","slug":"renowned-bitcoin-exchange-btcc-acquired-by-hong-kong-based-investment-fund","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/renowned-bitcoin-exchange-btcc-acquired-by-hong-kong-based-investment-fund\/","title":{"rendered":"BTCC Acquired By Hong Kong Based Investment Fund"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/btcc.jpg\" alt=\"\" width=\"300\" class=\"alignleft size-full wp-image-3934\" \/><a href=\"https:\/\/www.btcc.com\/\">BTCC<\/a>, the China based <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">crypto currency exchange<\/a> which was closed in September 2017, is acquired by a Hong Kong-based block chain investment fund. BTCC was once the world\u2019s longest-running Bitcoin exchange, until it was shut down due to <a href=\"https:\/\/www.legitgambling.com\/news\/cryptos-crash-south-korea-china-ups-ante\/\">pressure from the Chinese government<\/a>. BTCC is moving out of the Chinese market to focus on international markets. The flagship products of the company, <a href=\"https:\/\/pool.btcc.com\/\">BTCC Pool<\/a>, <a href=\"https:\/\/www.mobi.me\/\">Mobi<\/a> and <a href=\"https:\/\/exchange.btcc.com\/\">BCC Exchange<\/a>, will be managed by Denver Zhao, Mark Ma, and Aaron Choi, respectively.<\/p>\n<p>Bobby Lee, CEO and co-founder of BTCC said \u201cToday\u2019s acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I\u2019m very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.\u201d<\/p>\n<p><strong>Calvin Cheng, the lead advisor to the Hong Kong investment fund<\/strong>, stated<\/p>\n<blockquote><p>\u201cWe\u2019re humbled that we were able to acquire BTCC. BTCC has an unparalleled brand and reputation, and we look forward to taking it [to] greater heights of success internationally.\u201d<\/p><\/blockquote>\n<p>BTCC pool, which is operated on a pay-per-share model, guarantees miners a return on investment, irrespective of whether the digital currency pool mines a block or not. Zhao, Senior Vice president of BTCC pool, having an MBA from the University of Strathelyde, said the acquisition would enable BTCC to realize its vision of worldwide crypto currency adoption.<\/p>\n<p><strong>Zhao<\/strong> said<\/p>\n<blockquote><p>\u201cWe now have the resources to more fully realize our vision of safeguarding and stabilizing digital currencies\u2019 block chains. Going forward, we\u2019ll provide better, fairer, more transparent, and more comprehensive mining services to our customers worldwide.\u201d<\/p><\/blockquote>\n<p>Mobi is a digital wallet app that runs on iOS and Android. A web portal is also provided for storage, conversion, and transfer of over 100 currencies. According to Ma, vice president of BTCC, Mobi wallet has customers from over 180 countries. Ma, who leads Mobi, has several years of product design experience at Aliababa.<\/p>\n<p><strong>Ma<\/strong> further said<\/p>\n<blockquote><p>\u201cThe capital injection we received today gives us a boost towards reaching our goal to grab a dominant market share in the payments and digital currency industries of each of those countries.\u201d<\/p><\/blockquote>\n<p>BTCC Exchange, which was founded in 2011, is renowned for providing a simple-to-use interface that serves the needs of both frequent and casual traders who wish to convert BTC to US dollars, and vice versa. BTCC is hopeful that Choi, with his experience in managing startups such as RockYou, Chinapex, and Tapjoy, will lead the company in the proper direction.<\/p>\n<p><strong>Choi<\/strong> said<\/p>\n<blockquote><p>\u201cThe acquisition gives us resources to more effectively apply our unparalleled industry knowledge to provide customers with the most accessible digital currency services.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>BTCC, the China based crypto currency exchange which was closed in September 2017, is acquired by a Hong Kong-based block chain investment fund. BTCC was once the world\u2019s longest-running Bitcoin exchange, until it was shut down due to pressure from the Chinese government. BTCC is moving out of the Chinese market to focus on international [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-3928","post","type-post","status-publish","format-standard","hentry","category-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BTCC Acquired By Hong Kong Based Investment Fund -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/renowned-bitcoin-exchange-btcc-acquired-by-hong-kong-based-investment-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTCC Acquired By Hong Kong Based Investment Fund -\" \/>\n<meta property=\"og:description\" content=\"BTCC, the China based crypto currency exchange which was closed in September 2017, is acquired by a Hong Kong-based block chain investment fund. BTCC was once the world\u2019s longest-running Bitcoin exchange, until it was shut down due to pressure from the Chinese government. BTCC is moving out of the Chinese market to focus on international [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/renowned-bitcoin-exchange-btcc-acquired-by-hong-kong-based-investment-fund\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-30T02:13:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-01-30T02:17:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/btcc.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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