Huobi partners five firms to launch five different exchange in the Philippines, Russia, Taiwan, Indonesia, and Canada. The exchange to be launched will be using the cloud platform of Huobi exchange that was launched last month. The details of the launch were released through the South China Morning media publication on the 16th of August.
Huobi Partners Five Firms to Launch Exchanges
Huobi, the cryptocurrency exchange regarded as the third largest exchange in the crypto ecosystem set to expand its tentacles into five different countries. The expansion will be through a partnership with five firms that will use the cloud platform launched by the firm last month to start their adventure into the crypto exchange.
The five firms that Huobi will be partnering with are Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings (AIF), and Dbank Group. The five firms will establish their exchange in the Philippines, Russia, Taiwan, Indonesia, and Canada respectively.
The innovation of Huobi will see the expansion of the tentacles of the exchange further into more countries as the new exchanges will be sharing the order integration system, wallet system, asset management and clearing systems with the Huobi exchange.
The exchanges are already scheduled for launching, as the exchange in Indonesia will be launched on August 22nd, Taiwan on the 26th of August, Russia on September 3rd, the date for launching the exchange in Canada is not yet announced while that of Philippines was launched on the 12th August. The exchange launched in the Philippines is named Huibi, Bali to be launched in Indonesia and Shubao to be launched in Taiwan.
Huobi Exchange and Its Cloud Platform
Huobi exchange is a leading global digital asset exchange that trades more than 100 digital assets and is based in Singapore. The exchange started operation in 2013 and has expanded into many countries such as the United States, Japan, Korea, and Hong Kong as it widens its reach. The exchange platform supports more than 248 cryptocurrency pairs, support trading in more than 130 countries as it supports multiple languages.
The third largest exchange launched its cloud platform on July 20, 2018. The platform serves as the tool for the partnership with groups and firms to create an exchange in five more countries. The cloud platform aids four approaches, which includes exchange, OTC, operational, and eco-system solutions. And as reported, ten multinational companies have already become partners with Huobi Cloud, with five of them being Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings (AIF) and Dbank Group.
As Huobi continue to expand, more groups are expected to partner the newly launched cloud platform for better and efficient operations.