Chinese cryptocurrency exchange giant Huobi has announced that trading has begun on its new platform in Australia, launched on July 5th.
This move comes at a very good time, as Australia is currently catching more and more crypto headlines. Huobi, the fourth largest cryptocurrency exchange, seems to be on quite a roll since just last week it unveiled a new London-based operations centers.
The announcement describes that the initial trading will start with just ten pairs which will be on offer for the Australian dollar. These include Bitcoin, Ethereum, Litecoin, Ethereum Classic, PowerLedger, aelf, Cortex, Data, IOST and Bitcoin Cash. The exchange ended the announcement by asking its users to be patient stating that “In the future, Huobi Australia will open more trading pairs to all users.”
Huobi’s confidence in the strategic move
Huobi is betting big on its push into foreign markets and is displaying confidence in the every-growing blockchain space of Australia as Huobi Australia CEO Adrian Harrison declared for Finder: “Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.”
He went on to further say that “For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”
Huobi also aims to become a pioneer of the Australian crypto market, as proven by its partnership with Blockchain Global. “Strategic alliance with Huobi Australia represents our journey towards fostering the mainstream adoption of cryptocurrencies and blockchain technology, in Australia and around the world,” Blockchain Global CEO Sam Lee declared.
With more and more cryptocurrency exchange giants making similar moves and tapping into foreign markets, Huobi’s actions seem appropriate. Just recently, Binance which is the largest crypto exchange in the world announced its move to Malta. Other examples include Coinbase, which has launched a Japanese operations center.