After 8 months from launch, the Australian unit of the Huobi Exchange will merge with the parent company. The reasons for such a decision are called the unfavorable situation on the market and the inexpediency of maintaining a separate unit in the current situation.
Huobi Global opened a division in Australia in July 2018, reporting then that entering a new market was a “natural step”. According to Huobi Australia, the decision to become a member of Huobi Global takes effect from tomorrow.
Please be informed that due to poor market conditions and associated recent staff redundancies here at Huobi Australia, all operations, including the management of our platform, social media channels and customer support will be managed by our team at Huobi Global headquarters starting 26th February 2019.
Huobi Australia at Facebook
The Australian Exchange will also abandon the plan to add support for Fiat and continue to serve trades exclusively in cryptocurrency pairs. In addition, she will withdraw the application for registration in the Australian reporting and analytical center of transactions, which is not required for companies that do not work with fiat currencies.