NewFire Technology (01611.HK) announced that it will acquire all issued share capital of Avenir Asset Holding at a price of $30.46 million. Avenir Asset Holding owns approximately 84.62% of the shares in Japan's cryptocurrency exchange BitTrade. In addition, NewFire Technology will acquire approximately 7.69% of BitTrade from Goldenway at a total cost of $2.77 million. Upon completion of the acquisition, Avenir Asset Holding will become a wholly-owned subsidiary of NewFire Technology, and BitTrade will also become an indirect subsidiary of NewFire Technology. BitTrade primarily engages in cryptocurrency trading and has been officially recognized by the Financial Services Agency of Japan as one of the three self-regulatory associations, with the ability to formulate and enforce rules and standards for Japanese cryptocurrency trading.