BTCC acquired by Hong Kong-based blockchain investment fund

BTCC, the company behind the longest-running bitcoin exchange, today announced that it has been acquired by a Hong Kong-based blockchain investment fund.

BTCC officials said the company will now focus exclusively on the international market and its three major products — BTCC Pool, Mobi, and USD Exchange, which will be led by Denver Zhao, Mark Ma, and Aaron Choi, respectively.

Zhao, who has several years of sales experience and an MBA from the University of Strathclyde, said that the acquisition would allow BTCC to realize its vision of global digital currency adoption.

“We now have the resources to more fully realize our vision of safeguarding and stabilizing digital currencies’ blockchains,” said Zhao, BTCC’s senior vice president of BTCC Mining Pool. “Going forward, we’ll provide better, fairer, more transparent, and more comprehensive mining services to our customers worldwide.”

Ma, has several years of product design experience at Alibaba and other companies, said the acquisition would allow BTCC to sharpen its competitive edge globally.

“Mobi, the global multicurrency wallet that we introduced in March 2017, now has customers from over 180+ countries,” Ma, vice president of BTCC Mobi said. “The 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.”

Choi, has many years of startup management experience at RockYou, Tapjoy, Chinapex, and other companies said BTCC would use its experience operating the longest-running bitcoin exchange to provide the most accessible digital currency services going forward.

“We gathered ample experience, expertise, and customer feedback over seven years of operating the longest-running and most trusted bitcoin exchange,” said Choi, vice president of BTCC Exchange. “The acquisition gives us resources to more effectively apply our unparalleled industry knowledge to provide customers with the most accessible digital currency services.”

Lee expressed optimism about BTCC’s future.

“I’m excited about this new chapter in BTCC’s future — the acquisition poises us for success in 2018 and beyond,” Lee said. “The resources we’ll gain and the new set of experienced and talented executives we’ll have joining the BTCC team give us the impetus to lead every segment of the digital currency ecosystem, including the pool, payments, and exchange businesses.”