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Huobi Launches Partner Exchanges in Russia, Canada, Taiwan, Indonesia and Philippines

Huobi, a Chinese cryptocurrency exchange has announced that it has chosen five partners to launch cryptocurrency exchanges in Russia, Canada, Taiwan, Indonesia and the Philippines.The partners will share Huobi’s order integration system, wallet system, asset management and clearing systems.

Huobi is one of the world’s largest cryptocurrency exchanges and has offices in Singapore, Hong Kong, Japan, South Korea, the United States, Thailand and Australia with millions of users in more than 130 countries.

The five partners include Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings (AIF) and Dbank Group. Each of the partners will use the Huobi cloud so set up a new cryptocurrency exchange in the aforementioned countries.

Huobi further explained,

Corporate partners also share Huobi’s order integration system, wallet system, asset management and clearing systems; in addition to Huobi Global’s world-leading depth, liquidity and market data.

Huobi has given a rough schedule on when these partner exchanges will be launched. The one in Bali,Indonesia will be launched on August 22. The one in Taiwan will be called Shubao Digital Asset Exchange and will launch on August 26. The one in Moscow,Russia will launch on September 3 and there is no information on the launch date for the one in Canada.

The only exchange that has already been launched by one of the partners is the one in Manila, Philippines and is called Huibi. It was launched on August 12th and is co-founded by Ya-tai International Holding Group. Huibi has three markets on its platform – Tether(USDT), Bitcoin(BTC) and Ethereum(ETH). Eight trading pairs are available for the USDT market, seven for the BTC market and 26 for the ETH market. This exchange has no fiat support.

Huobi is also expanding its presence in the U.S. with the launch of the Hbus exchange and the strategic alliance with Openfinance network, a U.S. compliant security token trading platform.

Read Also:Huobi Launches 1 Billion USD Blockchain Funds in China

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.