The Huobi Group has just launched the Huobi Cloud platform, a solution that enables users to establish crypto exchanges on the Huobi blockchain. Reportedly, the Huobi Cloud platform has already enrolled several corporate institutions as strategic partners. Besides digital asset exchanges, the new solution is expected to facilitate the creation of over-the-counter exchanges. On the other hand, partnering institutions will have access to Huobi Global features such as wallets, order integration, asset management, and clearing systems.

Speaking at the inauguration, Huobi chairman, Leon Li, stated Huobi’s mission is to foster the adoption of distributed ledger technology through the sharing of knowledge and experience. The Huobi Cloud solution is made of four components, the exchange, over-the-counter, operational and ecosystem. The over-the-counter solution validates the authenticity of fiat money such as Chinese yuan to be traded on the Huobi exchange.

Presently, the Huobi exchange is the third largest digital asset trading platform in the world as per mean trading volume. The company has offices in the US, South Korea, Singapore, and Japan. Last month, Huobi announced a partnership with leading Chinese online store JD Group whose objective is to explore distributed ledgers and cloud computing, with special emphasis on the supply chain, Internet of Things and financial services.

Recently, the Huobi Group introduced a new public blockchain, known as the Huobi Chain Project. The blockchain will be used for tokenization, fundraising and so on. Once the Huobi Chain Project is released, Huobi seeks to distribute its operations.

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