Huobi Cloud Aims for 80 More Exchange Partners

Singapore-based exchange conglomerate Huobi Group has a unique growth strategy for emerging markets: partner with local entities and then split the profits 50/50.

Revealed exclusively to CoinDesk, the South African exchange HIZA will launch in May and join a cohort of 150 platforms under the Huobi Cloud umbrella, according to Huobi Group’s senior business director David Chen.

“We will help them get their trading volume up and we’ll expand our business when the market is more mature,” Chen said, adding that up to 80 like-minded partnerships are currently in the pipeline.

Recent expansion isn’t unique to Huobi, however. Global exchange giants like Binance are opening independent subsidiaries in emerging markets like Uganda, or investing in local exchanges the way Bittrex did with the South African exchange VALR. Similar to Bittrex, Huobi Group offers partners like HIZA access to its global order books for prime liquidity.

Interestingly, the partnership approach allows Huobi to minimize the regulatory risks of working in under-developed markets – where banking relationships require local knowledge and repercussions for unintentional missteps remain uncertain.

“They [HIZA] own their customer data, it’s not Huobi that owns it, otherwise it would be Huobi’s responsibility,” Chen said.

He added that Huobi Group has earned $1.5 million in net profit since October 2018 from Cloud partnerships that have already gone live. One such...


Huobi Prime offers digital currency investors a new way to Trade

Huobi, cryptocurrency
Huobi Prime is the latest offering to cryptocurrency traders by digital exchange Huobi Global. | Source: Shutterstock

Tuesday, March 26 will see customers of the cryptocurrency exchange Huobi experience a whole new way of getting their fingers around cryptocurrencies. Known as Huobi Prime, the system is a coin-launch platform that ensures all currencies purchased by Huobi users are immediately deposited into their accounts and tradable against the Huobi Token (HT) with minimal delays, according to a company press release.

Huobi, cryptocurrency
Currencies offered through Huobi Prime can be traded against the Huobi Token, the platform’s official cryptocurrency. | Source: Shutterstock

Customers will also have access to coins at below-market prices, as well as new projects and currencies not yet listed on major exchanges. Huobi’s executive team works with the project leaders of every coin or token listed, forming close partnerships and determining fair market values for users. Executives have also implemented tiered price limits to relieve customers of extreme volatility.

Speaking with CCN, Ross Zhang – head of marketing for Huobi Group – explains what inspired the new platform’s creation:

Low-quality coins and lack of access to ones with real potential are a perennial problem in the crypto space. While that is nothing new, I do think it’s taken on new importance in the ongoing bear market we find...


eCommerce Startup Ticket Monster (TMON) Raises $32 Million to Create Crypto Stablecoin

South Korean eCommerce Startup Raises $32 Million to Create Crypto Stablecoin

South Korea ecommerce marketplace Ticket Monster (TMON) revealed it had closed a $32 million funding round for its new stablecoin.

TMON, which boasts a considerable $4 billion in total sales, is seeking to create an in-house cryptocurrency to compliment its existing token, Luna, which acts as collateral on its blockchain platform.

Contributing to the round are some of the cryptocurrency industry’s best-known names, including Binance Labs, OKEx and Huobi Capital, as well as funds including Polychain Capital.

“From experience, I know that faster, more secure transactions...


Huobi Global Crypto Exchange Moves into Brazil

The chances are you have heard of one of the most prominent players on the market. The Huobi global exchange with trading volume of $1 140 189 009 – and a wealth of remarkable features.

Hongkong-based Huobi has recently confirmed they will be expanding their services into the Brazilian market. Let’s take a look at what consequences this may have for the crypto market and how it will affect you directly.

Who are they again?

Huobi is one of the largest cryptocurrency exchanges around. It bears a proud .pro status (this isn’t an award, it just means the address is at huobi.pro, but it still sounds cool), been around since the beginning of times (meaning 2013), and trades, according to the stats, more or less 127 000 BTC every 24 hours, which means it is the third largest trader around. How is that for the power of presence?

With very simple verification and registration procedures and optional delicious offerings like using marginal trading or a credit shoulder, it is indeed one of the most popular choices around. The fact that it is becoming so successful that the management has decided to throw a considerable part of their funds into extending into Brazil is undoubtedly an argument in crypto’s favor.

Background:

Huobi’s main strengths, as you will no doubt learn from their website now that we have intrigued you, are:

“Strategic insights based on research, trends, and 50+ unique indicators to properly evaluate investment potential and risk and in-depth, comprehensive information on 190+ cryptocurrencies.”

We’d also like to point out the importance of “advanced distributed system architecture built to protect against DDoS and other potential threats”, in light of recent hacker attacks.

Also, you will be glad to know this isn’t their first endeavor to explain the potential foreign lands hold:

“Huobi Global Professional Cryptocurrency Exchange has covered global clients and has opened trading offices and operation centers in Singapore, the United States, Japan, Korea, Hong Kong and many other countries”.

With all the experience Huobi has in asset acquisition and extension of their areas of influence there can be no doubt this enterprise will be as much of a success as the other ones, and we are very much looking forward to hearing more good news from them on their recent enterprise.

What happened?

Huobi’s relocation may have been a consequence of some internal struggle to do with governmental restrictions on currency trading in China, where Huobi originally comes from.

Well, all we care about is that it does the job, and does it very well. There are more than 190 currency pairs available with Bitcoin taking the lead. There are also many options available for users who may want to get heavily involved with graphs, use timelines, and learn massive...


Huobi Pro Launches New Crypto Market Index

Cryptocurrency exchange Huobi Pro is launching a new market index for its customers, the company announced Wednesday.

The Huobi main force index will track 10 different digital assets traded against tether (USDT), a dollar-pegged cryptocurrency, on its platform in real time, according to a press release.

The index will "reflect the overall performance of Huobi Pro market," allowing investors to see a single aggregated feed rather than having to check on individual assets one at a time.

The index will use weighted samples, according to the press release, which explained that the index divides digital assets into four categories: digital asset, platform, application and real asset substitute (not included in the...