Business
Ebang International Holdings Inc. Establishes Subsidiary in Canada in Preparation of Establishing Digital Asset Financial Service Platform
HANGZHOU, China, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading
About this update from Ebang International Holdings Inc.
[{"type":"text","content":"HANGZHOU, China, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading application-specific integrated circuit (“ASIC”) chip design company and a leading manufacturer of high-performance Bitcoin mining machines, today announced that it has established a wholly-owned subsidiary in Canada to improve its industrial chain layout and upgrade its digital asset financial service platform. The Company’s new subsidiary in Canada received a Money Service Business License from the Financial Transactions and Reports Analysis Centre of Canada on September 16, 2020, which will allow the Company to engage in foreign exchange trading, digital currency transferring and dealing in virtual currencies in Canada.\n Mr. Dong Hu, Chairman and CEO of the Company, commented, “Following our Singapore subsidiary, we are pleased to announce that the Company has established its presence in Canada. This move is in line with the Company’s growth strategy to capture the growth opportunity along the value chain of the blockchain industry and establish a digital asset financial service platform. Our new Canadian subsidiary lays a solid foundation for the Company to enter into North America, a market that that represents high recognition of digital currency and robust investment opportunity in digital currency trading platforms.” There is no guarantee that the Company will receive any additional requisite regulatory approvals and licenses to operate its proposed business in Canada in a timely manner or on commercially reasonable terms, or at all, or that the Company will commence such proposed business as planned, or at all. Shareholders are cautioned not to place undue reliance on this press release. About Ebang International Holdings Inc. Ebang International Holdings Inc. is a leading application-specific integrated circuit ASIC chip design company and a leading manufacturer of high-performance Bitcoin mining machines. The Company has strong ASIC chip design capability underpinned by nearly a decade of industry experience and expertise in the telecommunications business. The Company is one of the few fabless integrated circuit design companies with the advanced technology to independently design ASIC chips, established access to third-party wafer foundry capacity and a proven in-house capabi...