Huobi-Related New Huo Technology Acquires Investment Firm Avenir Asset
CryptoNewsTerminal Staff19 Aug, 2024
Huobi-Related New Huo Technology Acquires Investment Firm Avenir Asset
New Huo Technology, a related company of the Chinese cryptocurrency exchange Huobi (now HTX) and a Hong Kong-listed company, has announced that it will acquire all of the issued shares of investment firm Avenir Asset Holdings for approximately $34.61 million, according to Yahoo Finance. Avenir Asset Holdings indirectly holds approximately 84.62% of the shares of the Japanese cryptocurrency exchange Bittrade. Upon completion of the acquisition, Avenir Asset will become a subsidiary of New Huo Technology. This acquisition is a strategic move for New Huo Technology as it seeks to expand its presence in the Japanese cryptocurrency market. Bittrade is one of the leading cryptocurrency exchanges in Japan, and this acquisition will give New Huo Technology a significant foothold in the market. The acquisition is still subject to regulatory approval, but it is expected to close in the second quarter of 2023.
