Huobi enhances its ties to the Russian crypto market, still being the major cryptocurrency platform to have a physical presence in the country as we are reading more in the latest blockchain news today.
Crypto exchange Huobi enhances ties to the crypto market in Russia, since it is operating idependently in the country since 2018. The exchange has named Vladimir Demin as a CEO of Hiobi Russia as the chief advisor of Huobi Global to help fill the void in the crypto industry in the country. Huobi was the first major platform to have a physical office in the country in Moscow more specifically, two years ago, as they tried to train local blockchain talent. They also established a Russian-language call center for the local partners to retail privilege rights and to develop a digital platform according to the regulations in the country.
Russian users are also able to use the technology and the liquidity of Huobi Global to try and purchase cryptocurrency for roubles using the OTC services of the exchange as Demin said:
“The market opportunities in Russia for crypto and blockchain are huge and I think that experience, technology and approach of Huobi will help us to develop unique products highly demanded in Russia and in the whole world.”
To attract new users, Huobi Global will offer a number of benefits for the clients and will provide them with an easy one clik option on the site with the latest brand upgrade. Huobi is stepping on the Russian market aggressively and the decision came after a few weeks from the Russian bill to regulate cryptocurrencies. The new law provides a regulatory framework of digital financial asset transactions and a legal status to cryptocurrency:
“We are positively impressed with the crypto market in Russia and thanks to our Russian partner we have built a strong leadership position on the market. I am absolutely sure that we will keep developing the market in Russia for a very long time.”
Huobi revealed more plans to re-launch the operations in the US four months after the decision to go offline and reshape according to the US regulations. Huobi is a Chinese company with offices in Hong Kong, South Korea and Singapore. The firm made inroads into the United States and rebranded with the exclusive HBUS partner. In addition, the exchange was expanding aggressively into trading services in multiple jurisdictions around the world such as Korea, Russia and Argentina as well as London.
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