Huobi To Set Up Shop In Russia On 12th November

By Sumedha Bose

On of the world’s largest cryptocurrency exchanges, Huobi, is all set to launch their branch in Russia on the 12th November. The branch will have a Russian-language website and will offer local support services. The global cryptocurrency company wants to support Russian startups and mining projects, in addition to launching an educational program.

Huobi looks forward to launch an educational program and encourage Russian startups and mining projects, via their new branch in Russia. This branch could be an accelerator for blockchain projects, and could really contribute to the growth of blockchain projects in Russia. Through this incubaror, the company can partner with  a plethora of regional chambers of commerce throughout the Russian Federation.

The launch date of the Russian office was announced by Edward Chen, who is the Huobi Global Senior Director and Andrei Grachev, head of the Russian office, at the Blockchain Life conference in Saint Petersburg this week. The branch also intends to maintain a 24-hour online support system and a call center with Russian-speaking account managers.

The educational program that Huobi intends to launch will consist of courses related to cryptocurrency and distributed ledger technologies. For this purpose, the company will partner with leading Russian universities and other organizations.

The ones who are already on board are Plekhanov University of Economics, which is the oldest Russian business school, and the esteemed Moscow State Institute of International Relations. Students can look forward to receive special training in the specifics of digital asset management and automated and algorithmic trading services offered by Huobi.

Additionally, Huobi will also be helping with the development of so-called mining hotels in Russia. These facilities are on the rise in Russia and they offer quite inexpensive “accommodation” for small mining farms, which are on the lookout for spaces where they can make all the noise they want without bein slapped with notices from neighbors. The rental rates of these spaces depend on the power rating of the mining devices.

Huobi has been in the new lately because of their various expansion endeavours. The Huobi Group reported great success in the third quarter reports and they also launched a new stablecoin.