Huobi Cloud, a platform for deploying cryptocurrency exchanges (developed by blockchain asset firm Huobi Group), has reportedly experienced “rapid growth” since it was launched six months back.
Significantly, the monthly trading volume on Huobi Cloud-supported crypto exchanges increased by “500%” between October and December 2018. According to Huobi’s press release (published on (January 31st), the firm’s Huobi Cloud platform has helped launch 120 different digital asset exchanges.
Commenting on the potential of crypto trading platforms to improve the global financial system, David Chen, a senior business director at Huobi, remarked:
Digital assets have enormous potential to open the doors of global finance to users around the world. Our exponential growth – even in the midst of the ongoing bear market – just goes to show how much demand still exists for them.
Chen added that Huobi’s management is expecting to have “partners in at least 30 countries” located throughout the world. The cryptoasset trading service provider is planning to focus its business expansion efforts in Asia, Africa, and Europe. In order to make trading and acquiring digital assets more accessible, Huobi intends to introduce “fully-compliant fiat-crypto exchanges in more than 10 countries.”
New Partnerships Announced In Many Different Countries
As explained in Huobi’s press release, the Huobi Cloud solution allows companies “with little to no experience” operating crypto exchanges to “build and launch secure and stable” over-the-counter (OTC) exchanges. Huobi Cloud also allows clients to deploy their own crypto-to-crypto trading platforms.
In mid-August 2018, the Huobi Group had announced five new partnerships with companies based mainly in Asia and Europe. Huobi had partnered with Asia Financial Holdings, Chi Fu Group, Dbank Group, Yatai International Holding Group, and Vnesheconombank to launch cryptocurrency exchanges in Indonesia, Taiwan, Canada, Philippines, and Russia, respectively.
Offering "A Lower Barrier" For "Emerging Economies"
Explaining the benefits of using Huobi Cloud to build and deploy crypto exchanges, David Chen had said (at that time):
Together with Huobi Cloud’s corporate partners, we can offer a lower barrier for emerging economies to enter and participate in the burgeoning blockchain ecosystem.
Notably, Huobi Cloud allows clients to “benefit from Huobi Global’s” proprietary clearing system, asset management service, and order matching book. Additionally, Huobi Cloud offers free-of-cost web services and several supporting apps. The Singapore-based exchange’s Huobi Cloud partners are also able to use “Open API functionality” - which is designed specifically for “institutional, professional, and other sophisticated traders.”