Huobi Global is a cryptocurrency exchange founded in China in 2013, one of the oldest in the world. Included in the top ten in terms of trading volume according to Coinmarketcap with volumes of more than $1.3 billion per day as of May 2022. There is a Russian-language interface and a representative office in Russia.
Huobi is building an ecosystem covering most of the cryptocurrency businesses. The platform features spot, margin and futures trading, OTC, multi-currency custodial wallet, services for institutional investors, DeFi platforms and other services. Issues and maintains the HTT internal exchange token and the HUSD stablecoin.
Prior to the ban on cryptocurrency trading in China in October 2017, it was one of the Big Three exchanges. After that, “wandering through jurisdictions” began. The exchange has been renamed Huobi Global and provides services in several dozen countries. However, in 2021, due to tighter regulation, it was forced to stop servicing traders from 12 countries, including mainland China, and close its office in Beijing.
Now the parent company Huobi Global is registered in Gibraltar. There are also offices in South Korea and Japan, and representatives and technical support teams are present in more than 20 countries. The US office was closed in 2019 due to regulatory pressure.
Huobi has its own DeFi blockchain, Huobi Chain, launched in 2020. It operates on a Proof of Stake consensus and, like most exchange-based blockchains, is partially centralized.
Huobi’s security is maintained at a high level. For all the time of its operation, the exchange has never been the victim of a major hack or data leak.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
