Huobi Exchange to Open Office in San Francisco

The company is looking to grow internationally and “the U.S. will be our focus right now”, said Chief strategy officer of Huobi
31 January 2018   773

Huobi Pro, the international division of the once popular Chinese exchange announced its plans to launch an office in San Francisco. 

Cai Kailong, Chief strategy officer, revealed the move on January 26 at the USA — China blockchain conference Blockchain Connect, saying he came to the U.S. the week prior to help set it up. Cai also said that Huobi is looking to grow internationally and that “the U.S. will be our focus right now.”

A spokesperson for Huobi confirmed that the company is building a new headquarters in the Silicon Valley area, but the representative did not offer any further details the office's purpose.

Last month, we have reported Huobi Group partnered with SBI Holdings, a financial services company group based in Tokyo, to launch a pair of cryptocurrency exchanges in Japan in order to offer yen-based services and to develop the cryptocurrency-related business in the Asian region.

Huobi Pro also announced on January 23 that the company plans to launch its own cryptocurrency, called Huobi Token (HT).

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   83

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.