US Partner HBUS Undergoes Rebranding to Become China-based Huobi
HBUS was formerly a strategic partner to Huobi, a China-based cryptocurrency exchange. The strategic partner to Huobi that is based in the United States was previously using the HBUS.com for its retail trading services. But after being rebranded, it has officially taken up the Huobi.com domain.
The rebranding news was shared with crypto enthusiasts through a press release sent out to Cointelegraph on 11th January 2019. As mentioned above, HBUS started its operations as a subsidiary of the Huobi Group. This is the same group that is behind the Huobi Global Cryptocurrency exchange.
When starting out, HBUS operated as a premeditated partner to Huobi and was based in San Francisco. It officially launched its services in June 2018 and was operating as HBUS Holdco, Inc. Although rebranding has already taken place, it is believed that HBUS Holdco, Inc. will continue to manage all the operations pertaining to that platform.
The rebranding process has seen the company take on a new licensing agreement, that will see the HBUS.com domain being officially relocated to the domain being operated by huobi.com. Huobi Global will not be affected in any way by these changes as it will continue to use its previous hbg.com website.
In addition to officially taking on the Huobi name, the HBUS entity will also get to benefit from its partnership with Huobi Global in the form of tech support. The support it will receive will be provided to it in regards to security features as well as platform stability. This is in addition to being able to secure access for its new market makers.
Huobi Group was founded in 2013, in China. Its headquarters were, however, based in Singapore. This is because Beijing has very strict crypto rules, and has since September 2017 been carrying out random crackdowns on the local cryptocurrency exchanges offering crypto-fiat exchanges.
The group officially announced that it would be opening a new bureau in San Francisco in January last year. Following this announcement, HBUS officially started operating in June and acted as its official trading partner since July of the same year.
In order to make it easier for it to compete with many other cryptocurrency companies based in the United States, e.g., Robinhood and CoinBase, HBUS announced that it would be launching its own application programming interface. The API was targeted towards onboarding new talent for its compliance and corporate development work as well as professional traders.
Over the course of 2018, Huobi Group subsidiaries were able to accumulate a turnover of close to one trillion dollars. The group, however, did not lose sight of its objectives, and instead continued to pursue its plans of expanding its operations to more overseas countries.
This ambition saw the group launch a new office in South Korea. The office was launched with the aim of adding on to their existing operations in Japan and Hong Kong. The Group also managed to launch a trading platform in Australia and later on opened a physical office in London, England.