Huobi exchange's US partner begins crypto trading
As of yesterday, the Singapore-based Huobi exchange is now part of the US cryptocurrency landscape. Through a self-described "strategic partnership" with San Francisco-based HBUS, the firm launched cryptocurrency trading for 22 different tokens, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin and others.
HBUS began accepting account verification requests from US residents about a week ago. Cryptocurrency deposits have also been accepted from residents in anticipation of the launch.
The exchange is available to residents of virtually all states and territories except for those in the following states - Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington. The operator is still waiting for approval from regulators to offer its services to those areas.
Huobi had announced plans to open an exchange in the US more than a month ago. HBUS is a startup that was created toward the beginning of last month specifically for Huobi's operations, but Huobi has consistently said that it is not in control of the US-based exchange. Rather, it has only partnered with HBUS to offer support and offer the platform.
A few days ago, Huobi also announced a new platform for cryptocurrency trading in Australia. The US and Australian operations are part of a global expansion plan by the company, which is also targeting the European Union (EU). It has launched operations in London for the EU community, offering an over-the-counter trading desk that will begin tests later this quarter.
Apart from these new initiatives, Huobi has also expanded in Asia. It launched a subsidiary in South Korea this past Spring and now has operations in Japan and Hong Kong, as well.