Blockchain Asset Company Huobi Group Announces Expansion into Canada

cryptocuser 2 min read 318

With offices in Singapore, Japan, South Korea, Hong Kong, and the United States, the Huobi Group symbolizes Huobi.Pro market, Huobi Labs blockchain incubator, Huobi Capital investment finance, along with Huboi’s international brands. The Group’s exchange arm, perhaps its most identifiable brand, consistently ranks at the top ten electronic asset trades by 24hr volume, and according to Huobi Group records, it observed some $981.5 billion in transactions in February alone. In response to the Chinese government’s tightening regulations, Huobi shut down trade solutions in October of 2017.

Even as major credit card companies have shuttered obligations for cryptocurrency services and investments, Canada continues to determine record-high trading volumes from 2018, as taxpayers are turning into over-the-counter trade options such as LocalBitcoins for cash-in-hand, person-to-person transactions.
“Although we started at China in 2013, we (Huobi Canada) are a Canadian company. We wish to be as local as possible,” said Zhang, who has worked in Canada for the previous ten years. “We want to use local communities — not only dev communities but in addition fintech, local companies, capital and financial service companies.”
But since the Huobi Group extends its reach into Canada, the organization is making a point to “recruit Canadian talent,” Zhang indicated, working with many different organizations to enrich local and worldwide blockchain ecosystems alike.
The growth will include “most of the arms of the Huobi Group,” General Manager of Huobi Canada, Ross Zhang, informed Bitcoin Magazine. As such, besides its cryptocurrency market, Huobi Capital’s investment financing, Huobi’s Ecofund and Huobi Labs’ consulting solutions will be accessible to Canadian blockchain startups to cultivate advanced solutions and accelerate adoption.

So far, Huobi does not have an established on-and-off dip for fiat deposits and withdrawals for their trade, but Zhang says they are in the process of working out their banking connections in Canada.

About May 4, 2018, in EDCON at Toronto, Canada, the Huobi Group declared its plans to expand into the Canadian marketplace using a fully functional office at Toronto at the end of the year. This growth marks the blockchain asset company’s second move in to North America this season after establishing operations in San Francisco, and it comes only weeks after Huobi announced it would be launching European operations with a office in London, as well.

Huobi decided to include Canada to its growing base of operations for its positive regulatory environment and its policy makers’ commitment to fostering a secure trading environment for investors. So as to perform its role in representing its clients’ best interests, ” said Zhang, “Huobi Canada plans to work with law firms, accounting firms and regulators, on the exchange side and on the entire ecosystem.”