Huobi Global, Huobi Group’s flagship cryptocurrency exchange headquartered in Singapore, may have had a rocky fall in 2020, at least, as circulating FUD and the rumors say. Today, November 27, the company has great news to announce, with the introduction of another, independent site licensed to use the Huobi name.
Aimed at the Malaysian market, the fresh Huobi Labuan is unveiling trading services shortly after having acquired a digital asset trading brokerage service license from Malaysian authorities in September 2020.
For an initial 9-month trial period, the new site will be able to provide cryptocurrency spot and derivatives trading for more than a dozen crypto including Bitcoin (BTC), Ether (ETH), EOS and Huobi’s original token.
When it comes to infrastructure, Huobi Labuan will act as a native operating partner of Huobi Cloud, and thus use Huobi’s established trading technology for its local digital transaction brokerage services.
As reported, Labuan is just the most recent in a string of licensed Huobi sites or subsidiaries; the 7-year-old brand has a foothold in Thailand, the U.S through strategic partner HBUS, Turkey and Argentina, just to name a few.
Despite the regulatory turbulence that exchanges are now facing in some jurisdictions, Huobi has continued to broaden its offerings, engaging with the DeFi space and decentralized internet projects such as Filecoin.
As of the time of writing, Huobi Global is the second-ranked cryptocurrency spot exchange by daily traded volume and also in the derivatives exchange charts.