Huobi, world’s leading digital exchange, to start operations in Austraila
Huobi is making all the right moves to get prominence in cryptocurrency exchanges space. Last week, Huobi, being world’s third-largest cryptocurrency exchange, started a new virtual currency marketplace in the US through a new entity called HBUS. HBUS has launched its office in San Francisco. Huobi states that it hopes to get more customer onboard thanks to its user-friendly interface and a wide array of cryptocurrencies. HBUS plans to grow “aggressively,” forging alliances and partnerships with blockchain projects and offering discounts and giveaways to new customers.
Huobi is on a diversification spree. Earlier in the first week of June, Huobi divulged its plans to launch cryptocurrency based exchange-traded fund. BCFocus has previously reported that Huobi cryptocurrency exchange would be established in Brazil. The index leverages weighted samples for enlisting holistic market performance on Huobi Pro. This will assist in diversifying the risks for the retail investors while exposing them to prominent crypto assets.
— HuobiAustralia (@HuobiAu) June 15, 2018
The announcement of Huobi’s entry into Australian market came through a tweet posted by Huobi Australia.
China’s Huobi Group to invest $100 million in new public blockchain https://t.co/cB0VfC4jOa
— HBUS (U.S. Partner of Huobi) (@hbusofficial) June 8, 2018
Huobi Group announced strategies to invest $100 million in establishing the country’s first public blockchain, the Huobi Chain. Huobi exchange funds digital assets including blockchain incubators, mining pools, and research. Huobi exchange has already carried the token sale and accumulated $300 million for the project. The amount raised by token sale added into the company’s $1- billion blockchain fund that was launched in May. The fund will be utilized to collaborate with blockchain companies.
Huobi’s expansion spree started in April this year when the exchange announced the decision to launch London office. Huobi, initially based in China, had to relocate to Singapore after Chinese authorities outlawed digital currency trading last September. However, with an office planned for San Francisco and one for London, it’s deemed that this could open floodgates for creating and introducing products for American and European markets. In a report from CryptoBriefing, Chern Chung, Huobi’s senior business development manager for Europe, said that London was the preferred location for expansion into the West, adding:”Our statistics show that London is the most active trading scene across all of Europe. We want to have a presence here”.
Image via Huobi Australia Facebook Page
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