Giant Group Chairman Shi Yuzhu Invests Millions in OKCoin Bihang

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In a significant development within China’s blockchain and digital asset ecosystem, Shi Yuzhu, chairman of Giant Group, has reportedly invested tens of millions of dollars into OKCoin Bihang, a leading cryptocurrency trading platform. The investment, confirmed by insider sources on December 14, signals renewed confidence in blockchain innovation despite tightening regulatory oversight in China’s domestic crypto market.

While OKCoin has not issued an official statement detailing the investment terms or partnership structure, a spokesperson told Times Finance that updates would be released “according to official announcements,” without specifying a timeline. This strategic move aligns with broader industry shifts toward global expansion and technological reinvention in response to evolving financial regulations.

Regulatory Shifts and Platform Transformation

Since late 2017, Chinese regulators have enforced strict measures prohibiting fiat-to-crypto transactions, effectively halting direct RMB trading for digital currencies across domestic platforms. In compliance, OKCoin Bihang suspended all yuan-based trading services effective October 31. Users are now limited to peer-to-peer (C2C) exchanges and cryptocurrency-to-cryptocurrency (coin-to-coin) transactions.

On October 30, the platform formally announced its decision to discontinue RMB trading operations, emphasizing its commitment to regulatory compliance. According to the announcement, users retain full access to withdrawal functions—both for fiat currency and digital assets—ensuring liquidity and operational transparency during the transition phase.

Despite these constraints, OKCoin reaffirmed its long-term presence in the Chinese market. The brand will continue operating under a new domain: https://www.bihang.com. This rebranding effort reflects a strategic pivot from being primarily a trading venue to becoming a global blockchain technology developer and service provider.

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Global Expansion and Licensing Strategy

OKCoin Bihang is no longer confined to the Chinese market. Through strategic investments and international partnerships, the company has secured digital asset trading licenses in multiple jurisdictions worldwide. This regulatory groundwork enables it to legally operate in regions where cryptocurrency frameworks are more mature and supportive.

The overseas expansion mirrors trends seen across the industry. Major players such as Huobi and Bitcoin China have similarly exited domestic RMB trading and redirected focus toward international markets. By establishing compliant operations abroad, these platforms aim to serve Chinese-speaking investors while adhering to local laws in jurisdictions like Singapore, Japan, and Europe.

This global approach allows continued innovation in blockchain applications—including smart contracts, decentralized identity, and cross-border payments—without contravening China’s domestic financial policies.

Shi Yuzhu’s Vision for Blockchain and Bitcoin

Shi Yuzhu’s involvement is particularly noteworthy given his public advocacy for blockchain technology. In September of this year, he took to Weibo—a popular Chinese social media platform—to express support for Bitcoin, challenging prevailing skepticism.

“We shouldn’t excessively demonize Bitcoin,” Shi wrote. “Just because something is hard to understand doesn’t mean it’s inherently bad. If illegal activities occur in Bitcoin trading, those specific acts should be严厉打击 (severely cracked down upon), but that doesn’t justify banning Bitcoin trading altogether.”

He further predicted that even if China restricts domestic ownership, global adoption will persist—and possibly accelerate. “Foreign governments may eventually include Bitcoin in their foreign exchange reserves,” he noted, highlighting the potential institutionalization of digital assets.

His forward-looking stance underscores a belief in blockchain’s transformative power beyond speculation. As he pointed out, the underlying technology has far-reaching implications for finance, supply chain management, data security, and everyday digital interactions.

Market Momentum Fuels Investor Confidence

The timing of Shi Yuzhu’s investment coincides with a strong upward trend in Bitcoin’s market performance. At the time of reporting, Bitcoin was trading at approximately 105,974.33 yuan (~$14,800 USD) on Huobi—a surge of over 80% since the beginning of December alone.

Such momentum reinforces investor optimism about the long-term value proposition of cryptocurrencies. Analysts suggest that rising institutional interest, macroeconomic uncertainty, and increasing acceptance of blockchain infrastructure are key drivers behind the rally.

For seasoned entrepreneurs like Shi Yuzhu, volatility is not a deterrent but an indicator of early-stage opportunity. His investment in OKCoin Bihang may reflect a dual conviction: confidence in the team’s ability to navigate regulatory complexity and belief in the enduring relevance of decentralized financial systems.

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Frequently Asked Questions (FAQ)

Q: Is OKCoin Bihang still operating in China?
A: Yes. While RMB-to-crypto trading has been suspended in compliance with Chinese regulations, OKCoin Bihang continues to serve Chinese users through C2C trading, coin-to-coin exchanges, and blockchain technology development. The platform remains accessible via its new domain: bihang.com.

Q: What does Shi Yuzhu’s investment mean for OKCoin’s future?
A: Though exact details are undisclosed, the multi-million-dollar investment likely strengthens OKCoin’s capital base for global expansion, technological R&D, and compliance infrastructure. It also lends credibility through association with a well-known business leader.

Q: Can I still withdraw funds from OKCoin Bihang?
A: Yes. Users can withdraw both RMB and digital assets at any time. The platform ensures full liquidity support during its transition period.

Q: Why did OKCoin stop RMB trading?
A: The decision follows regulatory directives from Chinese authorities requiring all domestic cryptocurrency exchanges to cease fiat-crypto trading activities to mitigate financial risks and prevent illegal capital flows.

Q: Where is OKCoin expanding internationally?
A: While specific countries aren’t fully disclosed, OKCoin has obtained or is pursuing digital asset exchange licenses in several international markets, enabling legal operations outside mainland China.

Q: Is Bitcoin legal in China?
A: Bitcoin itself is not banned outright, but financial institutions are prohibited from handling crypto transactions. Individuals can hold Bitcoin, but trading via domestic platforms using RMB is no longer permitted.

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Core Keywords

As the digital economy evolves, strategic investments like Shi Yuzhu’s underscore a growing recognition: while regulatory landscapes may shift, the foundational impact of blockchain technology is here to stay. Platforms like OKCoin Bihang are not disappearing—they’re transforming, expanding, and laying the groundwork for a decentralized future.