Leading Exchange Huobi Launches HBUS Exchange In The US
Popular multi-language and leading digital exchange platform Huobi has recently announced a ‘strategic partner’ to launch in the US.
HBUS a cryptocurrency exchange is the ‘strategic partner’ revealed by Huobi, and it is focused solely for residents of the United States.
HBUS to Open Soon
Although the Huobi strategic partner, HBUS has been announced, the platform would not be open for activity until July 10, 2018.
Huobi has confirmed nine cryptocurrencies to launch on the same day, with the full list of trading pairs to be featured on HBUS to be announced when the platform goes live.
The nine cryptocurrencies to feature on HBUS have been confirmed to be:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
- Tether (USDT)
- Dash (DASH)
- Civic (CVC)
- TrueUSD (USD)
With more cryptocurrencies expected to launch in the future.
According to Huobi’s report, its exclusive US partners have been confirmed by the regulatory bodies in the United States, which makes the platform a regulated, compliant and trustworthy marketplace for crypto holders and users to trade virtual currency.
As a US regulated platform, HBUS will only be available for persons in the US who have valid US addresses.
HBUS has announced that traders who register on the platform prior to its launch on July 10, will receive a month of commissions free trading on the exchange platform.
The company will be opening for trade in the United States soon, but not in all the 50 states.
Exempted Areas for HBUS
Although confirmed and approved by regulators in the US, HBUS will not be open for residents of the following states:
- New York
- North Carolina
However, residents of the other 41 states can now deposit cryptos in the confirmed cryptocurrencies.
The reasons the excluded areas have not been confirmed yet but there are hints that regulators in the affected areas have not signed the permissions HBUS needs to function in these areas.
If that is the case, residents of those areas would not have to wait long before HBUS gets the necessary approval to trade in the parts which have been exempted.
The regulations for digital assets in the US have proven to be strict while launching in the US is a big milestone for Huobi and its strategic partners HBUS, the exchange platform upon launch will not support fiat trading pairs.
Whether or not HBUS will get fiat trading pairs is unclear at the moment will be decided by the future.
Although not formally under the Huobi moniker and advertised as a ‘strategic partner’, HBUS is a cryptocurrency exchange that draws its root from Huobi.
The US market, although a fast-growing crypto market, penetration is great as a result of the presence of rigid regulatory bodies in the country.
The entry of HBUS into the US blockchain market further solidifies Huobi’s position as a leading exchange platform.
Huobi Hits Australia
HBUS is apparently not the only big news the Huobi community has to celebrate, the third largest digital exchange platform launched in Australia just 2 days before announcing its strategic partner.
Huobi just like other major exchange platform is stepping up its game to own a greater share of the crypto market.
On its official website, Huobi announced that it would be opening for trade and exchange in Australia with 10 major cryptocurrencies as trading pairs for the Australian Dollar (AUD), according to Huobi, more cryptocurrencies are expected to be added to the AUD trading pair in the future.
Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC) are among the ten cryptocurrencies which opened on Huobi in Australia.
Prior to launching in Australia, Huobi launched an office based in London, to which it was revealed to be aimed at serving the European market.
Along with the office Huobi unveiled in London, the company also revealed part of its roadmap for the year.
Huobi has announced that the new London based office will pioneer Over The Counter (OTC) trading tests for cryptocurrencies before the end of Q3.
Huobi is currently ranked as the third largest digital exchange platform, with an estimate of $600 million USD traded on the platform over the last 24 hours.
As the reach of cryptocurrencies and the blockchain technology broadens every day, Huobi, just like most other digital exchange platforms is seeking more markets in a bid to be the biggest there is.