Singapore based crypto exchange; Huobi has revealed its new partnership to create a blockchain startup investment fund in China and South Korea. Recently, Huobi has announced cryptocurrency exchange traded fund offerings.
Partnership with Blockchain Startup Investment Fund
On Friday, 1st June, 2018, the China Money Network reported that, the crypto exchange has joined hands with NewMargin Capital and Kiwoon Securities. The former is a Chinese investment firm and latter is South Korean securities firm. Further, reports say that Industrial Bank of Korea, Korea Development Bank and Mirae Asset Financial Group will also be investing as limited partners.
However, the target of fund is aiming at $93 million will be investing in Blockchain startup in China and South Korea. With the intention, the Huobi’s partnership is to encourage and increase blockchain adoption and alliance between both countries.
Houbi the Future Crypto Giant
The crypto trading platform, Huobi announced a crypto exchange traded fund (ETF). It allows retail investors to attain exposure to more assets at a time. Therefore, the new investment option called HB10. It is now available for subscriptions by allowing purchases only on cryptocurrencies. However, HB10 is the replacement for Huobi 10 index which was recently launched. It was used to track 10 various assets on Huobi Pro exchange based on their market cap and liquidity.
The official website reads:
“HB10 will use the full replication method, and its holdings are adjusted according to the component coin pairs of Huobi main force index and their weights, to effectively track the underlying index trend. However, by exchanging for HB10, users can hold Huobi main force index. Users can have the opportunity to exchange for a basket of corresponding digital assets so that they can invest in a non-systematic risk diversification digital asset portfolio with fewer virtual currencies. In a non-one-sided market, HB10 can help to provide users with a risk-distributed and diversely targeted tool for long-term digital asset exchange”.
Beside these update, the exchange has also confirmed its new business expansion from Singapore to Brazil. The representatives of crypto exchange said to be marketing their platform at Sao Paulo, Brazil, where its new office has been set up. However, It is looking for a talent in the country through LinkedIn – accordingly it opens two vacancies; Chief Compliance Officer as well as Digital Marketing Manager.