Huobi to Launch Cryptocurrency Exchange Dedicated to EOS

Huobi Group’s crypto mining support Huobi Pool, will launch an EOS-dedicated cryptocurrency exchange in Q1 2019, the company said last week. The new exchange will allow users to trade EOS against “a number of other cryptocurrencies.” Cao Fei, CEO of Huobi Pool, said launching an EOS exchange “is simply the next logical step in our support” as an EOS super node. The statement of the EOS-dedicated crypto exchange comes at a time when Huobi is vigorously increasing its bionetwork. In December 2018 it proclaimed the announcement of the whitepaper for a public blockchain scheme Huobi Chain, mainly on safety, pellucidity and debauched and good frequency transactions, the corporation claims.

Lester Haoda Li, the head of Huobi’s global institutional business based in the company’s London office, said:

“Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our global institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy.

“Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.”

The company behind major cryptocurrency exchange Huobi has created a party branch as a part of its obligations to the Chinese state, the company’s U.S.-based subsidiary Huobi information confirmed Gregorian calendar month. 16.

Singapore-based Huobi, that was based in China and has sought-after right smart international enlargement this year, has gave the impression to select “closer ties” with the govt.. As native news outlet South China Morning Post notes, the corporate is making the Party branch at a further subsidiary, Peking Lianhuo data Service (BLIS).

The gap attracted associate audience and speeches, together with comments from Huobi founder and chief operating officer Li carver, WHO owns a ninety nine p.c stake in BLIS, consistent with the publication.

Under Chinese law, any company with over 3 party member workers should got wind of its own branch, the Post notes, adding that till recently, the follow was however largely confined to state enterprises. Recently the firm even declared that crypto startups seemed invincible. As Bitcoin (BTC) folded, falling to new multi-month lows each month, this industry’s participants barely flinched. Yet, as 2018 has come back to a head, variety of trade heavyweights have apparently fallen victim to money shortcomings, dropping the color of natural virtue in a very hot second, thus to talk. Bitmain and Huobi, each juggernauts during this emergent trade, area unit the foremost recent companies to possess succumbed to the securities industry blues. Regardless, very cheap line is that if cryptocurrencies still not endure a notable recovery, the startups running this system can doubtless still reel in bear market-induced pains. And if adequate money runways aren’t established, even this industry’s leading startups can begin to indicate bald signs of suffering, as created ostensible by ConsenSys and Bitmain’s cases.