Chinese exchange Huobi and its partners are launching cryptocurrency exchanges in five regions: the Philippines, Russia, Taiwan, Indonesia, and Canada. Partners “share Huobi’s order integration system, wallet system, asset management and clearing systems.” The exchange in Manila has launched with trading in three markets with over 40 trading pairs.
Five Partners, Five New Exchanges
Chinese digital asset and service provider Huobi has announced that it has chosen five partners to launch cryptocurrency exchanges in five regions.
Huobi is one of the world’s largest cryptocurrency exchanges, with a 24-hour trading volume of $915,183,234 at the time of this writing, according to Coinmarketcap. With offices in Singapore, the U.S., Japan, South Korea, Hong Kong, Thailand, and Australia, Huobi claims to serve millions of users in over 130 countries.
The five partners are Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings (AIF) and Dbank Group, according to South China Morning Post. Each partner will utilize Huobi Cloud to set up a new cryptocurrency exchange in “the Philippines, Russia, Taiwan, Indonesia and Canada, respectively,” the publication added.
Huobi clarified on Thursday:
Corporate partners also share Huobi’s order integration system, wallet system, asset management and clearing systems; in addition to Huobi Global’s world-leading depth, liquidity and market data.
The company officially launched Huobi Cloud on July 20, aimed at “enabling its partners to build secure and stable digital asset exchanges quickly.”
Huobi has provided a rough schedule for when the new exchanges will be launched by its partners. The exchange in Bali, Indonesia, will be launched on August 22. The one in Taiwan will be called Shubao Digital Asset Exchange and will be launched on August 26. The one in Moscow will be launched on September 3. The company has not provided the launch date for the exchange in Canada at press time…