Huobi Reveals Medium Expansion Plans …
Huobi reveals plans for expansion in the Middle East and Africa
Singapore-based cryptocurrency exchange Huobi intends to open a Dubai-based subsidiary called Huobi Mena, which will become its regional headquarters for further expansion in the Middle East, Africa and South Asia, according to the publication on the company’s blog.
The new blockchain ecosystem, according to Huobi Mena co-founder Mohit Davar, will include services aimed at both institutional and retail investors. In addition, the exchange will help blockchain startups located in this region raise funds for development and research..
“In general, this will include OTC trading, trading in token-token pairs, a blockchain project incubator, community development and an education center,” Mohit explained at the World Blockchain Summit in Dubai..
The first step in the ambitious regional expansion will be to conclude agreements with prominent local industry players. As a matter of priority, Huobi intends to cooperate with traders using artificial intelligence in their practices. AI solutions expected to be integrated into Huobi’s regional marketplaces.
“We also plan to partner with other major players in the blockchain industry to offer regional traders a safer, faster and more convenient service,” the company adds..
Huobi is currently the fourth largest exchange in the world in terms of monthly trading volume. The company has been making plans for global expansion for a long time. In May, she announced that it was entering the Canadian market. The following month, a similar statement was made with regard to Brazil, and later – Indonesia, Japan, Vietnam and Korea. In addition, in August, information appeared regarding the Russian site..
The company serves over 1 million users in over 130 countries and claims it will scale most effectively if it works with small and medium-sized enterprises in the regions..
“Our ultimate goal is to provide a secure and reliable digital asset trading service for millions of people in the Middle East, Africa and South Asia,” the exchange adds in a posting.
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