Hong Kong, 27th August, 2020 HKbitEX today announced that they have signed an MOU with Edvance in relation to the possible subscription of shares.
Edvance International Holdings Limited (Stock Code: 1410.HK) a leading cybersecurity company in Hong Kong, with a wide range of operating businesses, including value added cybersecurity solutions distribution, security technology innovation and development, “Security-as-a-Service” solution offerings have entered into an MOU detailing the possible acquisition of part interest of HkbitEX in the form of US$3 million of share capital of Series A2 Preferred Shares, being 6% to 6.25% of the estimated enlarged issued share capital of HKbitEX after the investment of Series A2 Preferred Shares by all investors.
Considering the increasing popularity of digital asset trading platforms in various economic sectors and the accelerated development in the related technology, Edvance has been looking to seize the opportunities to invest into businesses of financial technology.
“This is a monumental move for the industry as we see more institutional players moving into the space.” added Shibin Wang, Chief Business Officer of HKbitEX. We are very happy with this advancement and think this is a sure sign that there is definitely a shift towards institutionalisation within the industry.
HKbitEX is a leading digital asset exchange headquartered in Hong Kong. HKbitEX is committed to providing a compliant and regulated digital asset spot trading and over-the-counter (OTC) trading platform for global professional investors, and are one of the first organizations in Asia Pacific to apply for a ‘virtual asset trading platform license’ from Hong Kong’s Securities and Futures Commission (SFC), which will further enable regulated, and secure digital asset trading services to global professional and institutional investors.
For more information www.hkbitex.com.hk