Ebang mining manufacturer launches Ebonex cryptocurrency exchange

Nasdaq-listed ASIC chip maker and block mining equipment manufacturer Ebang (EBON) has officially announced the launch of its own crypto exchange ‘Ebonex’.

With the news, the company concludes a successful invite-only beta phase that was initiated in the beginning of March this year.

Following the announcement that was made on Monday, qualified investors will soon be able to register and trade on the cryptocurrency exchange.

While it was not revealed in what jurisdictions the exchange will begin to operate, it is likely that Singapore will be among the jurisdictions. In August last year Ebang completed establishing a wholly owned subsidiary in Singapore to prepare for setting up a regulatory compliant exchange in the country. 

Earlier this year, in two fundraising rounds in February, Ebang raised $170 million.

Ebonex will support the major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) and will include Cardano (CAR), Litecoin (LTC), Zcash (ZEC), Dash (DASH(, Tezos (XTZ), EOS, Monero (XMR) and Tether (USDT).

Ebang Chief Executive Officer and chairman Dong Hu confirmed the news and said:

“In recent years we have made a considerable investment in R&D talent recruiting, as well as product innovation and iteration. 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.” 

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