Huobi Moves to Facilitate Crypto Exchange Launches with Cloud Offering


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Huobi Moves to Facilitate Crypto Exchange Launches with Cloud Offering

Huobi, one of the leading cryptocurrency markets, has developed a cloud system that makes it easy to create new virtual exchanges with the Huobi platform as a basis, the company said on Friday. Huobi Cloud, as the new business arm is called, offers clients solutions for launching new virtual coin exchanges, over-the-counter (OTC) crypto-fiat trading platforms, and additional services, such as the development of platform tokens similar to Huobi Token (HT).

“In this era of significant and strong adoption of blockchain technologies, Huobi is looking to share its expertise and experience with the entire Blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders,” the exchange said in its statement.

The new Huobi service has several partners, including Russian state-owned development bank Vnesheconombank (VEB) and Taiwan-based investment company Chi Fu Group.

Huobi Cloud allows clients to set up coin and OTC exchanges with little to no IT capabilities. The integration, wallet, management, and clearing systems will use Huobi’s existing base, as well as its liquidity and market data.

If partners want to create crypto exchanges, they can use the cryptos that have already been listed on Huobi and its token service, Hadax. Currently, the exchange supports trading in various cryptocurrencies, among them Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), and Ethereum Classic (ETH).

Huobi Cloud also allows clients to set up OTC platforms by using its over-the-counter service, which offers trading between virtual currencies and fiat money like the US dollar, the Chinese yuan, and the Hong Kong dollar. Huobi’s global Ecosystem Fund, which was launched earlier this year to help new blockchain-based projects, has been integrated into the new cloud platform.

Earlier in July, Huobi launched an Australian trading platform and a partner exchange for the US market.

This article appeared first on Cryptovest