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Huobi.com Acquires Chinese Bitcoin Wallet Website

August 8, 2014
Internet | Security

Huobi.com, a Chinese professional virtual currency trading platform, acquired the Bitcoin wallet provider Quick Wallet.

Huobi.com also announced that Zhang Jian, chief executive officer of Quick Wallet, will be appointed as technology vice president of Huobi.com, leading the development and management of new businesses. No financial details about the acquisition was released.

Launched on July 15, 2014, Quick Wallet is a bitcoin wallet product under Qukuai.com. It is reportedly the first Chinese bitcoin wallet to use the multi-signature technology and it gained over 1,000 registered users within the first two weeks of operation.

After the acquisition, Quick Wallet will remain independent in its development and it will continue to expand business cooperation with other platforms in the industry.

Li Lin, chief executive officer of Huobi.com, said that the acquisition marks the first step for Huobi.com to integrate upstream and downstream industrial chains. In the future, the company will continue to integrate industrial chain resources to promote the development of China's Bitcoin industry.

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