The us subsidiary of Huobi Group — exchange HBUS, has signed an agreement with the financial company of Nevada Prime Trust to support I/o Fiat funds, according to CoinDesk.
As the newspaper notes, HBUS will allow users to trade bitcoin, Ethereum and Tether USD in a pair with the U.S. dollar.
At the same time, HBUS CEO Frank Fu stressed that the company intends to conclude some more deals in the United States.
At this stage, HBUS intends to work with institutional clients and to ensure legal compliance of its operations after which it will start to work with a wider audience. In 2019, the company also plans to increase the staff to 150 employees.
According to Fu, HBUS was about 60 thousand US residents and dozens of users from China.
In listing platform there are coins, such as bitcoin, Ethereum, Litecoin, Cash, Bitcoin, Ethereum Classic and Tether USD. Nevertheless, its members consider the possibility of adding other tokens in the future.
We will add that the main problem for HBUS remain Chinese traders, who could theoretically cash out at the site of the yuan for U.S. dollars, pre-expelling money through the OTC platform from Huobi Global.
Also worth mentioning that the banking partner is Global Huobi Australian Goldfields Money.
We will remind, Huobi became the leader in fees among bitcoin exchanges in 2018. It earned $483 million
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