Chinese cryptocurrency exchange Huobi has confirmed that on 5 July starts its new trading platform in Australia. At first the site will offer for Australian dollars, bitcoin, Ethereum, litecoin, Ethereum and Bitcoin Cash Classic. The exchange intends in the future to offer users additional trading pairs.
According to CoinMarketCap, now Huobi is in fourth place in the ranking of world stock exchanges: it is the intraday trading volume is $713 million last week, Huobi announced plans to open a London branch with a view to the European market. The Chinese stock market is not alone in its desire to address services to investors globally. So, the world’s largest for intraday trading volume ($1.3 billion) exchange Binance moved operations to Malta. Thus, it expects to get closer to European users. Coinbase, a leading indicator of trade turnover in the United States, in turn, plans to expand activities in Japan.
Australian regulators, like the Japanese counterparts, are demanding cryptocurrency trading platforms. The approach of the Australian Supervisory authorities exposed them to criticism. Huobi, which, it seems, the position of Australian regulators do not bother, intends to contribute to the implementation of the blockchain to the local economy. To reports local publication the Finder, this will help a subsidiary of investment company Huobi Capital and its Ecosystem Fund Global Fund with a capital of $200 million.
The head of the Australian branch of Huobi Adrian Harrison commented on the beginning of the work:
Australian crypto-currency traders have become increasingly extensive knowledge and skills. They become and Australian regulators are interested in safe market development.
We will remind, this week Huobi stopped working in the Japanese market.