Huobi will develop new markets through local cryptobirds

Huobi will develop new markets through local cryptobirds

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Huobi will develop new markets through local cryptobirds Financial services provider Huobi Group has announced plans to expand in emerging markets. In particular, the company intends to support the local cryptographic services, and then divide the profit 50/50. It is reported by Coindesk.

So, in May, the South African exchange HIZA should be launched, which will become one of the 150 platforms under the Huobi Cloud program. “We will help them increase trading volumes and expand our business when the market becomes more mature,” said Commercial Director David Chen, explaining the motivation of the Huobi Group.

He added that there are about 80 trading platforms in the queue for participation in the new program. Such a partnership can also help reduce the regulatory risks of Huobi’s presence in emerging markets, which require local knowledge. Note that in such markets there is no such strict regulation of the activity of cryptocurrency companies or a biased attitude of regulators towards them, like in the European, American or Asian market.

Thus, some experts emphasize that Bitcoin trade in Nigeria is not prohibited, but soon everything can change. “Authorities are seeking comments on and will likely update the rules accordingly, HIZA said. “Huobi will help us with all the technical aspects, especially with security.” For the Huobi Group, such an extension can be extremely profitable.

Thus, according to a study conducted by HootSuite in January 2019, 11% of mobile phone users in South Africa own crypto active assets. In addition, P2P exchanges, such as Paxful, have already demonstrated that demand in African markets, including Nigeria and South Africa, is growing even during deep and prolonged market dips.

Recall that the Huobi Group recently announced the launch of a new cryptocurrency platform designed for listing new assets created on the basis of the HT token’s own token.

Huobi will develop new markets through local cryptobirds

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