Huobi Plans To Expand -Huobi Group has announced its intentions to expand to many areas around the world. During the ‘World Blockchain Summit’ in Dubai, Huobi Group stated that the company wants to expand its operations to the Middle Eastern, African and South Asian markets in a bid to provide services to its unbanked or underbanked residents
Why Dubai ?
Huobi group, established in 2013 is one of the largest cryptocurrency exchanges in the world. It provides cryptocurrency trading in more than 130 countries. The company is located in Singapore and has built up another group in Dubai.
“We are very excited to bring the Huobi blockchain and digital asset ecosystem to the Middle East, Africa, and South Asia, As Dubai, is leading the blockchain effort in the region it made sense for us to set up our regional head office here.”
-Co-founder Mohit Davar commented
Huobi’s Dubai office will act as the head office for all three of the new areas which will form a new ecosystem model and develop partnerships with other blockchain-based companies. Similarly, Huobi Group’s dealings which are functioning in this region will have token-to-token trading, community development and the building of an educational center.
“The Dubai Blockchain Strategy aims to position Dubai as a leader in this global technology. Dubai is on course to become the first economy to operate its own cryptocurrency by the year 2020. Similarly, The Dubai Land Department is possibly the world’s most advanced use of blockchain by any government entity.”
Rashid Yusup, the CEO of Taklimakan
Huobi Plans To Expand -During 2018, Huobi Group established a strong presence in Brazil, Canad, and Japan. Serving 130 different countries, the Singapore-based company’s cumulative turnover now exceeds $1 trillion.
The company’s marketing team, Huobi MENA, is extensively working to build relationships with several regional members of the blockchain space including artificial intelligence digital asset trading solutions company AI Traders.
“Huobi believes in giving users maximum flexibility and choice when it comes to handling their digital assets, so this upgrade was a natural move for us.”
-Huobi vice president Livio Weng
It introduced six new stablecoins to its Huobi Wallet which include:
- True USD (TUSD)
- Dai (DAI)
- Paxos Standard Token (PAX)
- STASIS EURS (EURS)
- Gemini Dollar (GUSD)
- USD Coin (USDC)
Huobi has recently launched its own aggregate stablecoin known as Huobi USD (HUSD).