Huobi to leave Bitcoin industry

One of the ex-world largest cryptocurrency exchange reported about the withdrawal from the industry
31 October 2017   1026

The Chinese currency exchange Huobi, which some time ago had a rather significant part of the global trading volume of crypto currency, announced the withdrawal from the industry.

The founder of the exchange, Leon Lee, said that Huobi plans to reformat as a "provider of information and research services in the field of blockchain." The main direction of the company's activities will be directed to the Chinese market.

I believe that this is not only a milestone for Huobi, but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets. In the past, Huobi brand in China, has been a significant symbol in the industry of digital assets. In the future. Huobi team will continue to actively and globally participate in the development of the industry.

Leon Lee
Founder, Huobi

Thus, Tuesday, October 31, will be the last day of Huobi's presence in the Chinese market of crypto-currency trading. 

Rumors that the international unit of the exchange called Huobi Pro may soon launch p2p-trading at this stage are not confirmed.

Huobi to Launch Regulated Crypto Exchange

New entity will be focused on the institutional investors
07 December 2018   130

After obtaining a DLT license in Gibraltar, the Huobi cryptocurrency exchange revealed plans to launch a global infrastructure for clients.

According to Huobi representatives, the Gibraltar license gives the right to store and transfer cryptocurrency assets on behalf of clients all over the world. It will also simplify the exchange of fiat currencies for cryptoactives, according to a press release.

Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy. It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.

Lester Haoda Li

Head of Global Institutional Business, Huobi London

In a press release, Huobi also notes that Gibraltar was the first jurisdiction to introduce a regulatory framework for the provision of technology services in a distributed registry.