<p>Nasdaq-listed bitcoin miner manufacturer Ebang is preparing to launch its own cryptocurrency exchange in Singapore.</p> <p>To that end, the China-based company has set up a subsidiary in Singapore, it and would seek relevant approval and license to expand its business, according to an <a href="https://ir.ebang.com.cn/news-releases/news-release-details/ebang-international-holdings-inc-establishes-subsidiary">announcement</a> on Friday. </p> <p>Ebang, however, cautioned its shareholders that there is "no guarantee" the company will receive the regulatory green light and that it may not even go ahead with its exchange plans at all.</p> <p>Ebang <a href="https://www.theblockcrypto.com/linked/69694/bitcoin-mining-ebang-nasdaq">got listed on Nasdaq</a> in June and raised $101 million by offering its shares at a price of $5.23. The stock is currently <a href="https://www.marketwatch.com/investing/stock/ebon">trading at</a> around $6.78 a piece.</p> <p>Ebang's crypto <a href="https://www.theblockcrypto.com/linked/69694/bitcoin-mining-ebang-nasdaq">exchange plans come amid losses</a> for the last two consecutive years. The company suffered net losses of $11.8 million and $41.1 million in 2018 and 2019, respectively.<br /> <br /> Ebang rival Bitmain's spin-off Matrixport, which is based in Singapore, also recently <a href="https://www.theblockcrypto.com/post/72970/matrixport-crypto-derivatives-exchange">launched</a> crypto derivatives exchange Bit.com. </p>