Singapore-headquartered cryptocurrency alternate Huobi has reported a 100 p.c enhance in its buying and selling quantity in 2018 over the earlier yr, in response to a Cointelegraph report.
Huobi is among the high exchanges on the earth, nevertheless, because the crypto costs went down drastically all through 2018, doubling the amount in that interval signifies a large inflow of merchants out there.
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Moreover, in a time when the “crypto winter” is forcing many of the blockchain companies to chop quick their workforce, Huobi has added a whole bunch of staffs because the headcount went from 400 in early 2018 to greater than 1,300 in 2019, in response to its CEO Leon Li. However, studies have surfaced that Huobi can also be planning for layoffs.
The alternate has additionally expanded its world companies by opening 15 workplaces in 12 international locations.
Last December, Huobi launched a digital asset spinoff buying and selling platform known as Huobi Derivatives Market (Huobi DM). The platform turned out to be a large success as in mere one month the amount within the platform touched $12 billion and within the few extra days surpassed $20 billion mark.
Fiat-to-Crypto is Lucrative
As Finance Magnates reported earlier, the alternate has additionally expanded into the fiat buying and selling business with the launch of a fiat-to-crypto buying and selling platform.
Huobi can also be pushing its enterprise in its key markets – the United States, Japan, and South Korea. The alternate has just lately rebranded its US subsidiary from HBUS to Huobi.com and has obtained a Money Services Business (MSB) license from the Financial Crimes Enforcement Network. It has additionally obtained an operational license in Japan via its merger with BitTrade.
In addition, the corporate can also be planning to situation its personal stablecoin within the first half of 2019, FInance Magnates reported earlier.