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Credit China FinTech enters into US$30 million deal with Bitfury Group

26 January 2017  |  3266 views  |  0 Source: BitFury

Leveraging Blockchain Technologies to Transform its FinTech Platforms (26 January 2017, Hong Kong) The board of directors (the “Board”) of Credit China Fintech Holdings Limited (“Credit China Fintech” or the “Company”, stock code: 8207) and its subsidiaries (the “Group”) announced today that it has entered into a US$30 million deal with BitFury Group Limited (“BitFury”).

The deal includes an investment in Bitfury shares and the establishment of a joint venture focusing on the China market.

BitFury Group is the world’s leading Bitcoin and private Blockchain infrastructure provider and transaction processing company, which provides a full-service chain of hardware and software products. Blockchain is the latest and most exciting encryption technology for the secure transfer of digital assets among consumers, businesses, banks and financial institutions. The collaboration with Bitfury is in line with the Group's FinTech strategy and will assist the Group in maximising the adoption of the Bitcoin Blockchain and private Blockchains into its various FinTech platforms.

Mr. Phang Yew Kiat, Vice-Chairman and CEO of Credit China Fintech, said, “Blockchain is a fast emerging technology allowing effective secured value transfer over the internet. Our collaboration with BitFury will further cement our leadership position in the use of Blockchain technologies across our FinTech platforms, taking Credit China Fintech to a new level of competitiveness.”

Mr. Valery Vavilov, CEO and Founder of BitFury, said “We are deeply grateful to Credit China FinTech for both its forward-looking embrace of technology and its confidence in Bitfury. China is a visionary country and we are honored to have the opportunity to expand the work of our company to this significant part of the world.”

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