Chinese cryptocurrency platform Huobi formally announced the beginning of work on the territory of South Korea. The company has started trading 100 digital currencies in 208 markets, and created the investor protection Fund to compensate for any losses occurred through no fault of the user.
“Huobi Korea is 100 cryptocurrency markets and 208 (33 market USDT, 98 and 77 markets BTC markets ETH). 98% of user assets are stored in cold wallets. In addition, the internal security systems have been strengthened: to open a repository, you now need to go through complex procedures that require simultaneous authentication of several people. We also created the investor protection Fund and launched a relevant programme”, — stated in the message Huobi.
The company representatives also added that “in the future, the platform hopes to continually add support for new crypto” in addition to the already announced 100.
The list of supported assets is already included: DAT, DBC, DGD, DTA, EDU, ABT, ACT, ADX, AIDOC, APPC, AST, BAT, BCD, BCH, BCX, BIFI, BLZ, BTC, BTG, BTM, CHAT, CMT, CTXC, CVC, LINK, LSK, LTC, LUN, MANA, MCO, MDS, ICC, IOST, ITC, ICC, IOST, ITO, EKO, ELA, ELF, ENG, EOS, ETC, ETH, EVX, GAS, GNT GNX, MTP, MTL, MTN, MTX, NAS, NEO, OCN, OMG, ONT, OST, PAY, POWR, PROPY, QASH, QSP, QTUM, QUN, RCN, RDN, REQ, RPX, RUFF, SALT, SBTC, SMT, SNC, SNT, SOC, SRN, STK, STORJ, SWFTC, THETA, TNB, TNT, TOPC, TRX, USDT, UTK, VEN, WAX, WICC, WPR, XEM, XRP, YEE, ZEC, ZIL, ZLA and ZRX.
It is also noted that the opportunity to trade with the help of the Korean won “is in the process of preparation and will soon be available.” According to experts, the delay is likely tied to the South Korean legislation, which from January of this year the country has banned anonymous cryptotrading. Since the amendments came into force the local banks provided services for creating a virtual account only the four largest sites — Upbit, Bithumb, Coinone and Korbit.
We will remind, on March 26, the American branch of the cryptocurrency exchange Huobi has registered on the Network on struggle against financial crimes of the US as a “supplier of financial services.” Earlier also it became known that SBI Holdings, a financial services division of Japanese SBI Group, withdrew from partnership with Huobi, within which planned the opening of two new trading platforms in Japan — Japan Huobi and SBI Virtual Currency.