Huobi Exchange Commences Trading on Own Australian Platform

Huobi Launches Australian Exchange Ahead of Blockchain Investment Plans

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  • Huobi Australia commences operation.
  • The Australian platform would start operation with 10 trading pairs.

Huobi, the fourth leading crypto exchange in the world and has a daily trade volume of about $713 million, has released an announcement that confirmed that it has commenced trading today 5th July 2018 on its newly launched Australian platform.

According to the announcement, the exchange, which launched its London platform last week, stated that trading pairs would be introduced gradually on the 5th July from 10 am Sydney time. The Australian platform would start with 10 pairs which include BTC, Ether, LTC, BCH, and Ethereum Classic. The announcement states:

“In the future, Huobi Australia will open more trading pairs to all users.”

The exchange’s drives into the Australian market was influenced by the move by most major crypto exchanges to grow a global investor base. Nevertheless, Australia just like Japan sets strict requirements on crypto operators.

It was reported that Binance has moved its operation to Malta, which also enabled a stronger dealing with European users. Likewise, Coinbase – the leading exchange in the – is also making plans to set up its operation in Japan.

Late March, reported that Huobi exchange officially commenced operation in South Korea on 30th March.

It has also been reported that Huobi is planning to participate in the expansion of blockchain within the local economy through its $200 Mln Global Ecosystem Fund, and Huobi Capital – its investment subsidiary.

Adrian Harrison, the CEO of Huobi Australia, stated that

“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.”

He added that:

“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”

What’s your opinion about the exchange’s launch in Australia? Tell us in the comment box.

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