Chinese cryptocurrency entrepreneur Li Lin is expanding into Hong Kong’s financial market, aiming to tap growing demand for digital asset investment products.

Hong Kong-listed Bitfire Group said it will acquire the trading systems and investment team of Avenir Group, Li’s family office, for $1.6 million. Li is the largest shareholder in Bitfire, News.Az reports, citing Reuters.

Li built Huobi, now known as HTX, into one of the world’s largest cryptocurrency exchanges before regulatory crackdowns in mainland China reshaped the industry.

After selling a controlling stake in the platform to crypto entrepreneur Justin Sun in 2022, Li shifted focus to managing investments through…