Bitwires Technology, a global blockchain media group headquartered in Singapore, one of the worlds leading international financial centers and blockchain-friendly jurisdictions, completed the full acquisition of CoinKuaiBao on April 12, 2019. This acquisition brought together two prominent brands under the Bitwires umbrella, with CoinKuaiBao serving as a key pillar for Bitwires internationalization strategy. CoinKuaiBao is the worlds largest Chinese blockchain media platform, boasting nearly 7 million users, over 1,000 partnered projects, and 800+ self-media accounts, achieving the highest daily consultation volume globally. Bitwires is dedicated to building the worlds largest blockchain media and social platform, aiming to reach users in major languages such as English, Japanese, Korean, Spanish, and Arabic by 2020, becoming the gateway to global blockchain information.
In compliance with Singapores securities laws and regulations, Bitwires has successfully completed a new round of private equity financing, marking its official entry into the Singapore capital market. Following this funding round, Bitwires is valued at $50 million. Simultaneously with integrating with traditional capital markets, Bitwires has also implemented tokenization of its equity, mapping all shares onto the blockchain via smart contracts. This process resulted in the creation of a unique corresponding equity token (Security Token). The newly issued BITW token is a BDR token that is 1:1 bound to Bitwires Security Token through smart contracts.