Huobi CFO Chris Lee, was found in a presentation held in Singapore, where he states about the company to update its trading platform and stablecoin, further will continue its international expansion. Chris Lee speaks to the audience present at the event saying:
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. 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.
As various other leading exchanges are planning their way out, similarly, Chris Lee says, Huobi has already accomplished a hands-on approach regarding stablecoins. These are basically cryptocurrency tokens which are pegged to a stable value by algorithmically or an underlying fiat currency.
Huobi has also faced some downfall during its staff layoffs in December; somehow they continued pushing their growth into new markets. Staying positive they reopened their Huobi Japan platform. Moreover, currently according to CoinMarketCap, Huobi Global ranks as the seventh largest cryptocurrency exchange considering the 24-hour trade volumes.