Binance, one of the most powerful cryptocurrency exchanges on a global scale, invests in a Chinese media company focused on the crypto and technology industries blockchain. I am talking about a company based in Beijing Mars Finance. For now, no amount has been disclosed.
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Mars Finance encourages investors
Binance, boasting one of the largest cryptocurrency exchanges in the world, is reopening to the Chinese market, from which it withdrew in 2017 the year after China introduced a ban on digital currency trading.
According to the latest media reports, the digital giant has decided to invest in a Chinese media company Mars Finance focused around cryptographic services.
It is not known, however, how big the investment is. It is known that the company's value is estimated at nearly 200 million dollars.
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What is Mars Finance?
Mars Finance is a company founded in 2018 in Beijing by Wang Feng.
The subject of its activity are broadly understood new technologies based on blockchain.
The company runs its own crypto information service. Mars Finance also founded its own the investment fund.
The company has already gone through two rounds of financing, and investors include IDG Capital, OKCoin and Huobi.
To the current round, outside Binance two other entities also joined: Matrixport and Ceyuan Ventures.
In the near future, the company intends to expand the scope of its activities with new services, including market reports and cryptographic resource management.
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Binance about investing in Mars Finance
Binance representatives believe that investments in entities such as Mars Finance are important and needed.
The Exchange admits that it highly respects companies whose object of activity is the acquisition and presentation of data, news and current research on the applications of blockchain technology, and which activities contribute to its development.
At the same time, Binance declares that it will not stop on this investment and will continue to look for support areas for the sustainable development of the digital industry.
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