Block reward mining equipment maker Ebang International Holdings Inc. has launched the Ebonex digital currency exchange, which will only cater to qualified investors initially.
Besides using its own mining machines, Ebang plans to use mining machines purchased from other manufacturers and leasing computing powers from other mining farms.
The Nasdaq-listed company has completed internal testing of its digital currency exchange and will soon begin public testing leading up to an official launch.
Ebang has announced an interest in acquiring a New Zealand financial company and to set up a digital asset financial services company.
Industry titans Bitmain and Ebang were among those listed that felt the new policy initiative's sting, according to recent reports.
Ebang has established a wholly-owned subsidiary in Singapore to prepare for setting up a regulatory-compliant digital currency exchange.
Ebang went public on a United States stock exchange at a time when U.S. sentiment around Chinese companies is at an all-time low.
Like Canaan, which raised $90 million in its 2019 public listing, Ebang feels the U.S. market offers them the best chance for expansion.
Nasdaq will be making it more difficult for foreign companies, including blockchain firms, to list on its exchange.
The U.S. Senate took steps toward forcing Chinese companies to adhere to transparency rules or risk losing access to U.S. stock exchanges.
Ebang is confident that it can attract as much as $100 million through its IPO, according to its SEC F-1 form.