Huobi Global to be Purchased by About Capital

Cryptocurrency exchange Huobi Global agreed to be purchased by Hong Kong-based investment company About Capital Management's M&A fund. According to the investment manager, after the transaction, Huobi will see a series of international brand promotions and business expansion.

It's envisioned that Huobi will provide trading and investment services to international investors.

Huobi is among the largest crypto exchanges. It ranks 12th by 24-hour trading volume. According to data from CoinMarketCap, in the last 24 hours, the trading volume on the exchange was over $530 M.

Earlier in August, it became known that Huobi's founder Leon Li was in talks with investors to sell his almost 60% stake for over $1 bln.