Nasdaq-Listed Bitcoin Mining Giant Ebang Launches Crypto Exchange

Ebang has launched the cryptocurrency exchange that offers both spot and margin trading services only to qualified investors.

April 6, 2021 | AtoZ Markets – Ebang, a Chinese mining equipment manufacturer listed on the US Nasdaq, announced on April 5 that it will open its own virtual currency exchange

According to the announcement, user registration has already started.

Commenting on the development, Ebang Chairman and CEO, Dong Hu, said:

"In the last few years, we have invested heavily in securing human resources in the research and development field and product innovation. Our cryptocurrency exchange business started with cryptocurrencies. Not only will it increase the profits of the entire business, but it will also develop the blockchain industry."

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Evonex supports Bitcoin, Ethereum, Litecoin, Cardano, Gee Cash, Dash, Tezos, EOS, Monero, Tether and more.

Evonex had invited some users in March and started the beta version.

Diversifying Cryptocurrency Business

The Hangzhou-based company already revealed its plans of launching a crypto exchange late last year. The company is operating its international cryptocurrency operations, including its new exchange business, from its Singapore-based entity.

Ebonex was operating in beta since mid-March in an invite-only mode before the complete launch. The exchange is listing numerous top digital currencies, including Bitcoin, Ethereum, Chainlink, Polkadot and Litecoin.

However, the company did not clarify the jurisdictional presence of the cryptocurrency exchange.

The launch of our cryptocurrency exchange business will not only expand the revenue sources from our cryptocurrency business but also optimize the development of our blockchain industry chain,” Hu added.

Ebang is one of the top Bitcoin miners manufacturers, lagging only behind its other Chinese competitors. The company went public last year on a United States stock exchange and is one of the few publicly traded crypto companies. However, investors did not take the new crypto exchange launch positively as the shares of the company went down by almost 5 percent as of press time, since the opening of the Monday market.

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