Canaan-creative, the parent company of leading Bitcoin mining solutions provider Avalon, has formerly acquired Chinese Bitcoin payment website Btctele.com, according to Chinese language news.
After finishing the acquisition, the new company will begin business integration.
Coming online in June 2013, Btctele.com was the first Bitcoin payment site in China.
Btctele.com initially only supported cell phone prepaid recharging. However, it then started supporting Q coins, gift cards, games, and rewards, becoming a prominent Bitcoin payment service.
Btctele.com will also further expand business in existing virtual payment services enabling more virtual goods accessible via Bitcoin.
In the near future, the Bitcoin payment site will also revise its micro-channel client, allowing users on mobile devices to have a smoother payment experience.
The Btctele.com acquisition will further enhance the Canaan-creative’s influence in Bitcoin industry, as it will have both Btctele.com and Avalon ASIC brands across two types of digital currency businesses – Bitcoin payment and Bitcoin mining machine manufacturing.