Huobi to leave Bitcoin industry

One of the ex-world largest cryptocurrency exchange reported about the withdrawal from the industry
31 October 2017   1793

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 Brokerage Platform

The service, aimed at institutional investors, is  available to investors in almost all regions where Huobi is present, except China
22 January 2020   313

Huobi cryptocurrency exchange opens a brokerage platform focused on the needs of institutional investors.

The announcement of the Huobi Brokerage platform took place this Tuesday at the World Economic Forum in Davos. The service is already available to investors in almost all regions where Huobi is present, with the exception of China.

The brokerage platform is the first product of the Global Institutional Business (GIB) division, which will focus on serving institutional clients. According to the publication, from the third quarter of 2019, Huobi recorded an increase in the institutional client base by 400% - it was possible to attract 1,700 investors.

GIB currently has offices in London, Singapore, and Hong Kong and will be a top priority for Huobi in 2020 as it continues to expand globally.

 

Huobi

 

Like the American brokerage service Tagomi, Huobi Brokerage provides the ability to execute applications at the best prices by forwarding them to several trading platforms, including third-party exchanges and over-the-counter services. Huobi is known to have over-the-counter partners in Chicago Jump Trading and Hong Kong-based Alameda Research.

In addition, the platform provides services for block trading, individual financing and other solutions for traders interested in concluding large transactions. Bitcoin, USDT, HUSD, PAX, TUSD and USDC are available for trading blocks. By the end of the first quarter, ETH, EOS, BCH, LTC and XRP will be added to them.

2019 brought the first wave of institutional interest but 2020 is when we expect to see the industry mature with growing demand. As we enter the next phase of crypto, Huobi staking an active role in setting new standards for institutional and retail clients alike.

Ciara Sun

Huobi Group vice president