Huobi Reveals New Series of Exchanges to be Launched
Huobi Group, the cryptocurrency exchange giant in Singapore, has announced four new collaborations that will result in the launch of new and independent cryptocurrency exchanges in four countries, including Indonesia and Canada. These new exchanges will operate individually although all of them will house and support Huobi’s cloud platform and is better described as a franchise model.
The company’s cloud service was launched last month as a means of introducing new solutions to international cryptocurrency exchanges. Huobi enables other companies to launch over-the-counter trading and digital currency exchanges as well as integrative operations, digital wallets, fund and asset management and more services.
Should a company choose to launch their own exchange, Huobi’s platform will heavily simplify the entire process, cut down severely on the cost of launching one and the time required. Standalone exchanges can provide trading free of charge on their platforms and introduce their own fiat-crypto pairs to sate demands from the market.
At this point, over 1400 companies have filed applications to collaborate with the company’s Cloud service and out of all of them, only four have been accepted. Asia International Finance Holdings, Dbank, Yatai International, and CFG are the four companies chosen by Huobi. Huobi’s cryptocurrency exchange will take off in Manila around this time next week and will go live in Russia and Taiwan the week after.
As of now, Huobi is ranked back and forth between 3rd and 4th among the largest and leading crypto-exchanges in the world. Originally launched in Beijing, it’s now headquartered in Singapore following China’s government and the ban on cryptocurrencies earlier this year, including initial coin offerings last year.