The first digital asset brokerage platform by Huobi Group is about to be opened and to offer institutional clients and customers who have a high net-worth its trading services and products.
The announcement was made on Tuesday. Huobi Brokerage is the first product the Global Institutional Business (GIB) division at Huobi is launching. The GIB division was created back in November 2019, with the intention to serve Huobi’s institutional investors from all over the world.
Institutional Investors Will Use the Platform for Liquidity Pools and More
In the statement released by Huobi, it’s being said that institutional investors will be able to use the platform for cryptocurrency services like liquidity pools and over the counter (OTC) trading, while having a regulated channel for fiat currencies. The trading algorithm and smart routing system of the platform will be used. This is what the Huobi Global Businesses vice president, Ciara Sun, had to say about Huobi Brokerage and what it offers:
“One of the core value propositions of Huobi Brokerage is that it provides clients with best-price execution on large block orders.”
The Platform Will Also Provide Services for Adding Liquidity
Huobi Brokerage clients will be given access to price locks and trade quotes in real-time, for the most important stablecoins and cryptocurrencies, with support for Ethereum (ETH), EOS, Bitcoin Cash (BCH) and Litecoin (LTC) to be added in Q1 of 2020. Adding liquidity, targeting OTC, personalized financing and lending, and or exchange aggregation are some of the services provided. Huobi is planning to roll out its custodian services too, in Q2 of 2020. The financing and lending services are set to launch in Q3 of this year too.
The GIB Project Grown Huobi’s Institutional Business
Huobi claims its institutional business has developed greatly ever since the GIB project has been launched, back in 2019. These offices are not located in Hong Kong, London and Singapore. Sun added how important the project is for Huobi by saying:
“GIB is a central part of Huobi's international expansion strategy, which is the company's top priority for 2020.”
As far as things are until now, she’s only right to say so. Huobi will continue to expand and is sure to bring its users many pleasant surprises in the future.