Huobi Exchange closed Q4 of 2018 on a high after closing a major deal which saw the 10th largest crypto exchange by trade volumes (at press time) enter the Russian market. The Huobi Russia saw the birth of a new partnership with VEB Digital Transformation Center which also stands as the leader in the Russian blockchain and exchange trading.
Huobi trading volumes have been on the increase and stepping into new and unexploited markets will set the pace to increased trader activity on the Huobi Russia platform. During the event, Huobi Russia CEO, Andrei Grachev said:
“Despite the current market, the trading volume of Huobi Russia is growing, and recently exceeded the US $20 million in a single day. This shows the high interest and popularity of the Huobi Russia exchange with the Russian community. Huobi Russia will also be looking into providing blockchain and business development services for the local Russian users, such as education, project management, and negotiating deals.”
However, the Senior Business Director at Huobi, David Chen saw the Russian entry from a different perspective:
“The launch of Huobi Russia will bring the Huobi’s leading technology and trading expertise to Russian users. Huobi Russia gives Russian traders and cryptocurrency enthusiasts access to Huobi’s unmatched safety, stability, and user experience.”
With these unfolding events, Huobi investor confidence appears to be on the rise a fact that is supported by The Chairman of VEB Innovation Fund, Vladimir Igorevich Demin.
“In the field of digital asset trading, Huobi is one of the world’s largest digital assets trading platforms, with advanced technology and mature experience, security, and trading experience. VEB will continue to expand and cooperate with Huobi in the fields of development and education.”
The world appears to be waiting for the next move from the team behind the Huobi project. According to the project roadmap, the outfit plans to launch its native stablecoin by close of 2019. If the statement by the CFO at Huobi, Chris Lee is anything to go by, better days are in the offing:
“This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin in 2019 in the first half of the year.” he goes on to add, “2018 brought us huge challenges but I’m personally optimistic about the crypto market. I do think we’ll see things get better this year.”
Huobi soft spot for stable coin has been on the rise and introduction of their own will increase their global visibility and uptake. The crypto exchange is not stopping at Russia; it is also making inroads in other locations posing a big competition to other leading exchanges.
The nod by the Japanese authorities to grand Huobi a Financial Services Agency (FSA) license is a clear indication of the value the exchange is set to add to the Japanese crypto user. The trust that the exchange has gained over the years has seen it overtake other exchanges of repute in the waiting list.
Japan is very strict on crypto regulations licensing the exchange is a huge boost especially in Japan which leads not only in crypto adoption but used as well. The Japanese authorities are very strict on exchange security and this is a huge plus for Huobi.
The last 30 days have seen the Huobi Exchange trade $9,339,693,212 and $1,353,306,430 in the last seven days. The last 24 hours trading session prior to reporting the exchange saw a volume of $267,467,990 across the over 398 markets the platform plies its trade in recording growth of 5.49%.
The most popular trading pairs on Huobi in the last 24-hour trading session are BTC/USDT, EOS/ETH, ETH/BTC, and TRX/USDT. With more digital assets onboarding the Huobi ecosystem, the sky is poised to be the limit.
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