Crypto exchange Huobi is planning to launch a subsidiary called Huobi Mena soon in Dubai. This new subsidiary will become a regional headquarter as Huobi carries out its expansion drive in the Middle East, South Asia and Africa, according to a recent blog post.
Mohit Davar, co-founder Huobi Mena, stated that the blockchain ecosystem will entail services that will cater to both retail and institutional crypto investors. He further added that it will also include services for promising blockchain startups that are looking to raise funds for development and research in these regions.
Mohit announced that crypto exchange Huobi has also established a Dubai-based operations team to cover the three regions in order to replicate its successful experience of building an ecosystem. This ecosystem will entail token-to-token trading, OTC trading, community development, blockchain projects incubation and an educational center. The OTC and token-to-token trading are already live via a beta version of the platform.
Starting with Al Trader, Huobi Mena is in the process of establishing partnerships with regional players. Al Trader offers artificial intelligence-based digital asset trading solutions. The exchange has additional plans of entering into partnerships with other big names in the blockchain industry in order to offer regional traders a faster, safer and more convenient trading experience, as stated in the Medium blog post of Huobi Global.
Big investors are willing to head in the Bitcoin space. But they want to do the same via regulated OTC markets. Some of the key reasons for not choosing a regular exchange include limits and liquidity. Since institutional investors can play a key price-defining role particularly in Bitcoin and the rest of the crypto market, global expansions can give exchanges more visibility to the local investors, as reported on NewsBTC.
Crypto exchange Huobi, the fourth largest exchange in terms of monthly volume, has been spreading its regional network across the world. The exchange had announced in May that it was entering Canadian markets. The following month, Huobi announced similar expansion plans in Brazil and it continued further with more global expansion announcements to Japan, Vietnam, Indonesia and Korea.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]