Houbi Cloud Experiences “Rapid Growth”

By Rishma Banerjee

According to reports, Huobi Cloud, which was launched six months back, is a platform for deploying cryptocurrency exchanges. It has experienced “rapid growth” since it was launched six months back. the monthly trading volume on Huobi Cloud-supported crypto exchanges has recorded a “500%” increase between October and December 2018.

Their press release (published on January 31st) says that the firm’s Huobi Cloud platform has helped launch 120 different digital asset exchanges.

David Chen, a senior business director at Huobi, when asked about the  potential influence of crypto trading platforms in the global financial system remarked:

Digital assets have enormous potential to open the doors of global finance to users around the world. Our exponential growth – even in the midst of the ongoing bear market – just goes to show how much demand still exists for them.

He also added that the company’s management is also to establish partnerships in 30 countries across the world, and is focusing their business expansion efforts in Asia, Africa, and Europe. They also hope to introduce “fully-compliant fiat-crypto exchanges in more than 10 countries.”

The press release explains that the Huobi Cloud solution allows companies “with little to no experience” operating crypto exchanges to “build and launch secure and stable” over-the-counter (OTC) exchanges. Huobi Cloud also enables clients to deploy their own crypto-to-crypto trading platforms.

Notably, Huobi Cloud allows clients to avail the advantages of Huobi Global’s” proprietary clearing system, asset management service, and order matching book. Moreover, they also offer free-of-cost web services and several supporting apps. The Singapore-based exchange’s Huobi Cloud partners are also allowed to use “Open API functionality” – which is specifically made for “institutional, professional, and other sophisticated traders.”

David Chen also said:

Together with Huobi Cloud’s corporate partners, we can offer a lower barrier for emerging economies to enter and participate in the burgeoning blockchain ecosystem.

Mid-August last year, the Huobi Group had announced new collaborations with five companies based mainly in Asia and Europe. They have partnerships with Asia Financial Holdings, Chi Fu Group, Dbank Group, Yatai International Holding Group, and Vnesheconombank to launch cryptocurrency exchanges in Indonesia, Taiwan, Canada, Philippines, and Russia, respectively.