Huobi, one of the biggest exchanges in the world, has started operations in Australia and now offers cryptocurrency to fiduciary money exchanging for this country. This forms part of an expansion scheme that the Chinese exchange has been executing this year, with offices or partners opening several other countries, and now also in Australia, according with an article published by Bitcoinist.
Huobi, the fourth biggest exchange in the world, has been clear in their intention of expanding to other latitudes to continue growing in the difficult and contested cryptocurrency exchange market. And it has chosen Australia to continue to open new borders for its success. Australia is one of the most crypto-friendly countries, with their regulation recognizing bitcoin and cryptocurrencies as legal tender, being the second country that has done that, after Japan. And while it is not the biggest country that is booming with cryptocurrency demand, it is indeed one that is growing one step at a time.
The exchange will let traders exchange four cryptocurrencies for Australian dollars inside their platform. These cryptocurrencies are some of the more popular ones: Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic. Representants of the exchange have repeatedly expressed that the regulatory stance is pretty favorable for doing businesses there.
The Australian market is comprised of more than 300,000 active traders, mostly young people, aged between 19-30 years; and with the everyday rise of cryptocurrency importance, it is expected that those numbers keep growing. The Huobi Australia CEO, Adrian Harrison, declared that:
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 FOR OUR TECHNICALLY ROBUST PLATFORM.
This move completes an expansion wave of this cryptocurrency exchange, that has also recently opened a new exchange partner in the United States, known as HBUS, offering zero fee trading for a month to advertise their new trading platform.