Huobi Opens Trading Platform Today, Seeking a Global Investor Base
China’s Huobi cryptocurrency exchange has decided to launch their platform ahead of schedule today on their new Australian platform. Right now, the exchange appears to be thriving substantially, considering it is presently at fourth-largest exchange in the world now. Right now, they are exchanging $713 million each day, according to a report from CoinMarketCap.
Along with their platform launch, Huobi also announced that they would be phasing in other coins to establish trading pairs, which is expected to be completed by Thursday at 10:00am Sydney time. Right now, there are ten pairs planned, including Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. However, additional pairs are planned for the future.
Many exchanges in the market are working to adapt to a global range of investors, especially the bigger platforms. Binance is the largest exchange in the world, and they have moved over to Malta for a better connection with European investors. Coinbase, which is based out of the United States, is working towards setting up a project in Japan.
Japan and Australia both have strict requirements for any company running a crypto platform, though there has been plenty of criticism over the regulations being set up this year. Still, Huobi plats to continue expanding. The CEO for the Australia office, Adrian Harrison, has said,
“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.” In regard to the transition to Australia, he also said,
“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”