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Huobi, a Cryptocurrency exchange is set to launch its office in London. As per a report, Huobi’s senior Chern Chung, business development manager for Europe says that London is preferred location for expanding the business into the Western countries. Further, he added that “Our Statistics show that London is the most active trading scene across all of Europe. We want to have a presence here.
Brexit has certain unfavorable conditions and London still remains a top location for businesses to flourish.
Pengu Hu Vice president of Huobi Group asserts that “Not Malta, not Switzerland. Absolutely London, more precisely Britain is the entry point for the European market for us.
Huobi is not only considering London for setting its new office. The cryptocurrency exchange of Singapore is in the process of opening operations in San Francisco. It also began its operation in South Korea in the month of Korea.
As global regulations in the cryptocurrency market are increasing these days, Huobi moving a step forward to follow these rules and regulations.
Chung cites that Huobi’s commitment and determination to go mainstream. We are not afraid of regulation nor are we escaping regulation. In addition, he says “We are not saying that others that are going to these places are escaping but we are not escaping and we are charging towards them”.
Relocation of Huobi
Earlier, Huobi was a China-based crypto exchange. Later it shifted to Singapore after Chinese authorities completely banned digital currency trading last September. As Huobi is planning to open its office in San Francisco and London, it is creating and releasing products for an American and European customer base.
Crypto enthusiasts are excited about Huobi’s plan to open its office in London. It is a positive step for Huobi that seems to determine and expand its presence around the world.