Cryptocurrency exchange Huobi continues expansion into foreign markets — office opens in Toronto, Canada.
The company, which headquarters is in Singapore, made a statement of intent to enter the canadian market, explaining that the volume of cryptocurrency trading peer-to-peer in the country has increased despite the hostile attitude of the local banks.
“Canada is developing as a leading blockchain-nation, and Toronto will be one of the next most active blockchain hubs in North America. Access to the canadian market will help Huobi to become a leader in the field of cryptocurrency and blockchain innovations,” said Ross Zhang (Zhang Ross), General Manager Huobi Canada.
He stressed that the company is willing to cooperate with the regulatory authorities, which will allow “market blockchain assets become more reliable” and accelerate the pace of adaptation of technology.
“The opening of the first office Huobi in Toronto is another step in ongoing efforts to improve the reliability of the industry of the blockchain for it to soon become more widespread,” said Zhang.
According to CoinMarketCap, now Huobi is the third largest cryptocurrency exchange in the world with a daily trading volume of approximately $1.7 billion.
Recall that in March — two months after the announcement of its own token in preparation for the launch of the trading platform crypto-to-crypto in the US, Huobi registered in the U.S. division of the Ministry of Finance to combat financial crimes (FinCEN) as a company providing financial services.
In addition, in April it became known about the active initiative of the company to enter the European market with the opening of an office in London.
Also, this week representatives of the blockchain incubator company Huobi Labs announced a strategic partnership with Tianya Community to create a $1-million Fund in the Chinese province of Hainan.
It is worth noting the extent to which the exchange penetrates new markets, characterizes the industry as a whole: having certain difficulties in the sphere of regulation, last year the exchange has shown significant growth, in order to increase profits and plan to expand the geography of its activities.
So, Binance and OKEx turned his attention to Malta: both the crypto currency exchange offices on the territory of the island state, which the authorities have declared that welcome the company, working with innovative technology. Exchange Bitfinex plans to consolidate its operations in Switzerland, while Coinbase, according to the publication Business Insider, is preparing to open an office in Chicago, planning to develop a product for institutional trading.