Huobi, one of the world’s largest cryptocurrency exchanges by volume, has launched in Australian. Trading has started with ten pairs exchanged for the Australian dollar and the company says it will add more trading pairs in the future.
The company, now based out of Singapore, with offices around the world, also said it wants to go further than just rolling out another exchange and growing its listings. It plans to become a contributing member to Australia’s growing blockchain technology scene through its Huobi Capital investment arm, Huobi Labs consulting service and its US$200m Global Ecosystem Fund.
Huobi’s Australia CEO Adrian Harrison said he is well aware of the interests and demand of Australian investors, who tend to be quite informed and “sophisticated.”
“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market. For Huobi Group, the move to Australia is a natural fit for our technically robust platform.”
Huobi will use its Global Ecosystem Fund to “partner with the growing numbers of Australian blockchain projects” who are looking to expand in the Australian market.
Huobi has been expanding rapidly, last week, it opened its European office in London with over-the-counter (OTC) trading set to begin later this year.
The company, which was founded in 2013 by Leon Li, has positioned itself as one of the giants in the field of cryptocurrency exchange across the globe. It claims to be operating across 130 countries trading over $1bn in assets. Its operations are designed specifically for knowledgeable crypto investors.