Crypto exchange Huobi to join Vietnam's block chain market
Updated at Wednesday, 16 May 2018, 14:27
The Hanoitimes - Huobi Pro, the world fourth largest crypto exchange, plans to foray into Vietnam`s block chain market and also explore investments and partnerships in Asia, local media reported.
The crypto exchange platform is planning to support enterprises in the development of block chain technology in Vietnam.
In China, the Huobi Group recently announced a partnership with the Tianya Community Network, setting up a US$1 billion fund to invest into startups using block chain technology.
"From our own research, we recognize that Vietnam is one of the fastest-growing countries in the industry and is actively engaged in technology," Wu Xing, Huobi Pro's Senior Director was cited by local media.
In Vietnam, Huobi Pro is actively seeking opportunities and building local team to expand its business in the near future, Wu revealed.
"Vietnamese startups can collaborate with Huobi through the use of the Huobi Token to invest in quality block chain projects, working with us through incubator programs or block chain technology investment funds," she said.
Founded in 2013, Huobi is currently the world's fourth-largest crypto-exchange by trade volume, according to data from Coin Market Cap, trading about US$1.2 billion in the past 24 hours to press time.
Huobi Global has offices in Singapore, Japan, South Korea, Hong Kong and the United States, popularizing the service to millions of users in more than 130 countries and regions around the world. Under Houbi Global, Huobi Pro is the digital asset trading platform, providing commercial and investment services for more than 100 digital assets, headquartered in Singapore.
Last year, Huobi Group and SBI Group (formerly Softbank Investment Group) reached a strategic partnership agreement to jointly develop digital assets financial services in Asia.
The digital assets exchange is said to provide by both SBI Virtual Currencies and Huobi Japan in early this year. The move will see Huobi renew its crypto currency trading business with the launch of two exchanges in Japan.