• Huobi Global announced their upcoming launch of Huobi Hong Kong, set for June 1.
• This comes after the Securities and Futures Commission (SFC) in Hong Kong allowed retail trading in cryptocurrencies.
• At launch, users will be able to trade Bitcoin (BTC), Ether (ETH), Tron (TRX), and Huobi Token (HT).
Huobi to Launch Hong Kong Venue on June 1
Huobi Global announced that it will be launching its Hong Kong division on June 1st to allow users in the city-state to access virtual assets platforms. This news follows the decision by the Securities and Futures Commission (SFC) of Hong Kong to give retail investors access to crypto trading. The new venue, called Huobi Hong Kong, will offer a range of trading pairs and services that are fully compliant with local regulations.
Available Trading Pairs at Launch
At launch, users will have access to four different trading pairs: Bitcoin (BTC), Ether (ETH), Tron (TRX), and Huobi Token (HT). With these options available, customers can make informed decisions while taking advantage of crypto’s potential for growth.
Huobi Rebranding & Expansion Plans
To gear up for this expansion into Hong Kong, Huobi underwent a rebranding in November last year after being acquired by About Capital Buyout Fund the previous month. The exchange also announced plans to increase investments across Southeast Asia, Europe, and other regions while exploring strategic mergers and acquisitions to expand its ecosystem as well. Unfortunately, their attempt at entering Malaysia was met with some regulatory roadblocks.
Increased Interest in Crypto by Retail Investors
The news that SFC is allowing retail crypto trading indicates an increased interest from retail investors – which could lead to an influx of capital into the industry as more people become aware of it. Having a presence in one of Asia’s major financial hubs could also act as a catalyst for wider adoption within the region.
Conclusion
With this new venture into Hong Kong, Huobi is positioning itself as one of the top players in Asian markets when it comes to cryptocurrency trading platforms – while providing customers with a secure way to invest their money into digital currencies or tokens with potential for growth.