Huobi Group announced the launch of a new platform, Huobi Cloud, which will allow users to build digital asset exchanges at the top of the current Huobi platform.
More than ten multinational companies are already partners in Huobi Cloud. The new product aims to establish OTC exchanges and digital assets. Partners will also be able to use order and wallet integration systems, as well as the asset management and clearing system of the Huobi Global platform. Leon Lee, President of Huobi Group, commented:
“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.”
According to the statement, Huobi Cloud consists of four methods, including exchange solutions, OTC, operational, and ecosystem. Exchange solution supports exchange platform publishing, token-related services, hot and cold wallet separation, risk-trigger mechanism, and other services. The OTC solution verifies the authenticity of the trading of fiat currencies like U.S. dollars, Hong Kong dollars, Chinese yuan, and cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Huobi was founded in 2013 and is the third largest currency exchange in the world in terms of volume of trade, with offices in Singapore, the U.S., Japan, South Korea, and Hong Kong. At the end of June, the company partnered with JD Cloud, a subsidiary of China’s largest online retailer JD Group, to explore blockchain technology applications and cloud computing, focusing on financial services, Internet of Things (IoT), and supply chain fields.
In June, Huobi also announced the launch of its new public blockchain, the Huboi Chain Project (HCP). According to Huobi Group, the new platform will be used for “value exchange, fundraising, securitization and more.” With the release of HCP, Huobi also aims to decentralize its own operations.