- The acquisition expands Sinohope’s influence in the crypto market.
- Avenir Asset Holding owns 84.62% of Japan’s BitTrade.
Sinohope, a Hong Kong-listed cryptocurrency firm previously Known as Huobi Technology, has announced its intention to acquire Avenir Asset Holding for $30.46 million. The deal was confirmed through an official statement on the Hong Kong Stock Exchange (HKEX). This acquisition marks a significant expansion for Sinohope in the cryptocurrency space.
Avenir Asset Holding, a prominent player in the financial sector, owns approximately 84.62% of the Japan-based cryptocurrency exchange BitTrade. Consequently, this acquisition will provide substantial control over Bittrade, bolstering its position in the Asian crypto market. The transaction reflects its strategic efforts to enhance its global footprint and expand its influence in the cryptocurrency industry.
Sinohope Expands Market Reach
Sinohope aims to leverage BitTrade’s established platform and customer base by integrating Avenir Asset Holding. Furthermore, the acquisition is set to provide Sinohope with increased operational synergies and opportunities for growth. With the integration of Avenir Asset Holding, they will benefit from enhanced market reach and advanced technological capabilities.
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