Crypto exchange giant Huobi announced on Wednesday the launch of a new platform, facilitating commission-free digital currency trading.
Dubbed Huobi Lite, the Singapore-headquartered company, launched the platform on both Android and iOS.
Commission-free trading in offering
The platform will support nine cryptocurrencies – BTC, ETH, USDT, HT, EOS, BCH, XRP, LTC, and HUSD – and has plans to expand the list of offerings in the future.
As detailed in the announcement, the new platform will offer crypto trading against multiple fiat currencies United States dollar, the Vietnamese dong, Malaysian ringgit, Hong Kong dollar, and the Chinese yuan. It will allow deposits in various methods, including using credit cards.
The platform will also facilitate commission-free trading for an array of crypto-to-crypto pairs.
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Commenting on the new platform, Ciara Sun, vice president of global business at Huobi, said: “Huobi Lite gives users a simpler way to trade crypto without sacrificing the trust, performance, and security they’ve come to expect from other Huobi products.”
“The current process of buying and selling cryptocurrencies can be unnecessarily complex for the average person, so we’re distilling the experience down to a few easy steps. By reducing the barrier to entry and catering to both beginners and veteran traders, we’re vying for mainstream adoption across the globe, especially in underserved markets like Southeast Asia.”
Once one of the leading Chinese crypto exchanges, Huobi was exiled due to the Chinese overnight ban on crypto exchanges. It then re-established itself in Singapore and achieved global dominance, and is now expanding its services beyond its exchange business.
In January the exchange launched brokerage services for the institutional investors and is building a blockchain to support decentralized finance (DeFi) applications. The platform also offers a white-label solution for local exchanges in some regions to expedite their service offering.