London Calling: The New Hub for Huobi
Chinese cryptocurrency exchange Huobi is officially setting up shop in London, confirming the new office on June 28. The company is looking to kickstart over-the-counter (OTC) trading by Q3 this year, and you can bet they’re not just trading gossip over tea and biscuits.
Why London? Why Now?
So, why did Huobi pick the UK capital as its European home base? According to their press release, it seems they have a soft spot for places where money flows faster than the River Thames. London is deemed a prime choice for its status as a global financial center and the largest cryptocurrency trading center in Europe, with a vibrant blockchain community.
Talent and Regulations
Huobi believes that the UK’s high-quality finance and technology talent markets will give their operations the boost they need. Let’s not forget the enticing open regulatory environment in the cryptocurrency realm here—no need to wear a suit and tie for their licensing procedures, thank you very much!
Rubbing Elbows with the Big Players
It appears that Huobi isn’t alone in its transatlantic ambitions. The rush to establish a tangible presence in Europe has led to other exchanges, like Binance, making similar power moves (hello, Malta!). As Huobi Group’s vice president, Peng Hu, pointed out, their allegiance is firmly with London, dismissing other locations like Malta and Switzerland for their new European operations.
Facilitating Growth for Startups
The opening of Huobi’s office isn’t just a big deal for them; it’s also a boon for UK-based blockchain and crypto asset startups. Besides enticing access to European markets, they’ll get the chance to tap into Huobi Labs and the Huobi Ecosystem Fund. That’s right—cash, connections, and community, all in one package!
Buckle Up for More Action
With industry veterans like Lester Li and Josh Goodbody helming operations in the new office, prospects seem bright for Huobi’s expansion endeavors. As the third largest crypto exchange globally—touting around $500 million in daily trading volume per CoinMarketCap—let’s just say, things are about to get interesting in London!
