Huobi Reports 100 Percent Growth In Trading Volumes Over the Past Year
Huobi, a major global crypto exchange has shared in a press release, that they have observed a 100 percent growth in trading volume in the past year. While 2018 has been tough for cryptocurrencies in terms of price point, Huobi has been riding the high tide with all its various endeavors.
Reportedly, Huobi has observed growth in its infrastructure as well with 15 offices in 12 countries and regions, the Singapore-headquartered company has expanded its staff from 400 employees in early 2018 to more than 1,300 people by the start of 2019.
- The over-the-counter (OTC) trading desk by the company has reportedly emerged as one of the most traded OTC platforms worldwide.
- Though launched in July 2018, the Huobi Cloud platform service has garnered over 100 partnerships just over six months. The platform enables users to build their digital asset services,
- The company has experienced progress in its key markets including the United States, Japan, and South Korea.
- Huobi’s strategic partner in the U.S. has obtained a Money Services Business (MSB) license from the Financial Crimes Enforcement Network. The fiat-to-crypto services were launched by the company on Feb.5.
- In Japan, the company has managed to obtain one of the first 17 crypto licenses ever issued through their merger BitTrade that was re-launched in January this year.
- In Europe, the crypto exchange platform also acquired a Distributed Ledger Technology (DLT) license from Gibraltar to provide compliant blockchain asset trading in the country.
As aforementioned, Huobi has been riding the high tide with all its various endeavors. Though 2018 has been tough, 2019 has been testing metals with the cryptocurrency ecosystem. A recent report has suggested that the trading volumes on cryptocurrency exchanges has hit their lowest since 2017. In addition, three crypto exchanges had bucked under the bear market pressure and have closed down their shutters. In fact, Houbi exchange platform was also reported to have troubles as it was struggling to survive the crypto winter.
While 2019 has just begun and many believe that the troubles are the subsequent cause of 2018 bear market and as and when the “winter” season is gone, all will go on its merry way once again.
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