ASCH Receives $7.5 Million Investment from Bitmain
During the Bitcoin Cash Anniversary Global Summit on August 1st, Hantao Qian, CTO of ASCH Platform, announced that ASCH received a $7.5 million investment from Bitmain, one of the largest blockchain and cryptocurrency companies in the world. This significant investment signals confidence and strength in the ASCH technology.
ASCH was one of the first Chinese blockchain companies to successfully launch an ICO. ASCH completed its ICO in mid-2016 and raised around 1000 BTC, at that time approximately 4 million RMB. Two years later, ASCH received a 50 million RMB ($7.5 million) investment. This is an important investment for ASCH. It shows ASCH’s growth and commitment to build a world-class blockchain platform. It also provides valuable resources to invest in research, build out the team, and grow the community.
Bitmain has had huge success in cryptocurrency and currently holds the largest BTC mining pool in the world. Bitmain also produces some of the top mining machines for many of the most valuable cryptocurrencies including BTC, BCH, and LTC.
Bitmain founder Jihan Wu said:
“I have always admired ASCH’s solid technology and geek culture. Soon after ASCH’s accomplishment of cross-chain technology, Bitmain decided to invest in ASCH. We will soon start cooperations in aspects of R&D, community building and overseas marketing. Our collaboration will greatly expand the usage of BCH and accelerate its growth”
ASCH has been growing rapidly and already has 10+ projects building on the platform. ASCH also recently accomplished cross-chain operation for BTC and BCH, which means both BTC and BCH can be used on ASCH’s mainnet.
ASCH founder Qingfeng Shan thanked Bitmain for the recognition:
“I really appreciate the investment from Bitmain, the world renowned enterprise with a strong blockchain ecosystem. The investment is a recognition of ASCH team’s efforts of past two years, and the cooperation will definitely boost our strengths in R&D and marketing. We will strengthen our cooperation in all aspects, and look forward to a bright future together.”
Together with the news of v1.4 release last night, it is really an exciting month of August for ASCH believers. ASCH is the first project in China that technically accomplished cross-chain of BTC and BCH. ASCH believes that cross-chain is the key to realizing the value network, and it is critical for ASCH to develop a burgeoning ecosystem.
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