Huobi Expands to Fiat Trading As Bear Market Hit Crypto Volumes

Despite the explosive growth of cryptocurrency trading over the past two years, fiat-to-crypto platforms are still relatively scarce. Even among the top venues, many preferred to stay away from the space altogether, presumably due to increased regulatory scrutiny that comes with delving into this territory.

This attitude, however, is changing in 2019 after a prolonged crypto winter hit the crypto exchanges’ volumes and fortunes.

Today, the US arm of Singapore-based cryptocurrency exchange Huobi announced that it is launching a new fiat-to-crypto exchange, according to a press release seen by Cointelegraph.

To begin with, the exchange will initially list three major pairs all tied to US dollar against Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) with more pairings to follow after review and screening. It also plans to add more in the future depending on customer response.

Huobi, the third largest crypto exchange by 24-hour trading volume, announced last month a mutual rebranding with its exclusive US strategic partner HBUS. Per the agreement, HBUS has licensed the Huobi brand and rebranded its retail Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term from HBUS.com to Huobi.com.

Huobi Group’s crypto platform continued to operate under the same name but changed its domain to hbg.com. HBUS marketplace rebranded as Huobi and migrated its trading platform to huobi.com, which is now open to American customers.

Expanding into New Directions

Huobi is also preparing the infrastructure to launch its own stablecoin in the first half of 2019. The exchange already has an ‘all-in-one stablecoin’ wrapper called HUSD which supports four US-regulated stablecoins: Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollar (GUSD). Notably, Tether (USDT) has been left out.

Meanwhile, the Nevada trust company will provide custody for Huobi’s fiat-crypto venue and is looking to facilitate clearing and settlement of OTC block trades.

Prime Trust is already famous at the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term space thanks to its back-office solutions. The company began its Bitcoin storage service in July, and then added support for Ethereum and ERC-20 tokens.

Prime Trust, however, is not the only company providing infrastructure and operational cryptocurrency custodianship for the wider investment management industry. Leading cryptocurrency exchange Coinbase, Japanese financial holdings company Nomura and most recently SIX Group, the owner of SIX Swiss Exchange, have all recently launched similar services for institutional investors.