Huobi, a leading global cryptocurrency exchange, has announced the expansion of its over-the-counter (OTC) trading services to the UK and European markets, backed by a newly established office in London.
Strategic Expansion into Europe
- London Office Launch: Confirmed on June 28, 2018, the London hub serves as Huobi’s European gateway, with OTC trading tests slated for Q3 2018.
- Market Rationale: The exchange highlighted London’s status as a global financial hub and its thriving blockchain ecosystem, citing the city’s “active crypto community and rapidly growing market” as key factors.
“Huobi’s UK growth will be supported by a high-caliber financial and technical team, alongside the country’s progressive crypto regulatory environment.”
Competitive Landscape
Huobi’s move mirrors strategies by rivals like Binance, which relocated to Malta in April 2018 amid regulatory shifts. However, Huobi’s leadership emphasized London’s unmatched advantages:
- Quoted Priority: “Not Malta, not Switzerland. It must be London—more precisely, the UK,” stated Peng Hu, Huobi Group’s Vice President.
- European Focus: The London office aims to streamline access to EU markets while supporting local blockchain startups via Huobi Labs and its ecosystem fund.
Operational Leadership
The expansion will be spearheaded by:
- Lester Li, Director of Huobi Europe.
- Josh Goodbod, Chief Legal & Compliance Officer for Huobi UK.
Market Position
At press time, Huobi ranked as the third-largest crypto exchange globally by daily trading volume (~$500 million), per CoinMarketCap data.
FAQs
Q: Why did Huobi choose London for its European headquarters?
A: London’s financial infrastructure, regulatory clarity, and vibrant crypto community aligned with Huobi’s goal to dominate European markets.
Q: When will Huobi’s OTC trading services launch in Europe?
A: Testing begins in Q3 2018, with a full rollout expected thereafter.
Q: How does Huobi’s expansion compare to Binance’s move to Malta?
A: While Binance sought regulatory flexibility in Malta, Huobi prioritized London’s established financial ecosystem and EU market access.
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### SEO & Structural Notes
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