The Chinese cryptocurrency exchange, Huobi has announced that trading has begun yesterday i.e. July 5 on its newly-launched platform in Australia. The new crypto exchange offers only crypto-to-fiat trading with the Australian dollar.
The exchange now located out of Singapore, with offices in Brazil and Canada, said trading will initially start with ten pairs in exchange for the Australian dollar.
These ten pairs include Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. The new exchange offers only crypto-to-fiat trading with the Australian dollar.
“In the future, Huobi Australia will open more trading pairs to all users,” Huobi added.
Huobi’s enthusiastic drive into foreign markets results as majority exchanges pursue a global investor base.
Similarly, The European volume leader Binance, currently the largest exchange in the world with around $1.2 billion in daily trade volume, has occupied Malta, also enabling substantial interaction with European users.
Apparently gazing at the current landscape, Huobi is also taking steps to contribute to blockchain expansion and its consulting services through its investment subsidiary Huobi Capital.
Huobi Australia (HuobiAU) is a joint venture between Huobi and Blockchain Global- one of the leading Australian venture funds. The company will use its $200 million Global Ecosystem Fund to “partner with the growing numbers of Australian blockchain projects” who desire to expand in the Australian market”.
Huobi Australia CEO- Adrian Harrison said:
“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market”.
“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”
Huobi has also partnered with Blockchain Global to foster the digital currencies adoption to Australians and the space at large. Blockchain Global CEO- Sam Lee said that “his company’s partnership with Huobi is a win-win for the country’s blockchain space”.
He continued… The “strategic alliance with Huobi Australia represents our journey towards fostering the mainstream adoption of cryptocurrencies and blockchain technology, in Australia and around the world.”
The exchange has been enlarging rapidly. Just a week back, it launched its European office in London together with over-the-counter (OTC) trading. The news says setup will start later this year. Huobi European Exchange Director- Lester Li said that the expansion was “in response to the high demand we have seen in Europe.
So, what do you think will be the next plan of Huobi? Do you think this step will become a great launch?
Image Source: Huobi