Huobi has long been eyeing global domination through its crypto trading platform, and this week it launched its Japanese version. To celebrate, Huobi Global made the announcement on Twitter and directed followers in Japan to keep an eye on Huobi’s new dedicated Japanese account. Back in September 2018, Huobi bough majority stake in BitTrade to fast track the regulatory process in the country, and it’s finally finished putting the finishing touches on the revamped platform.
— Huobi Global (@HuobiGlobal) January 9, 2019
Streamlining its Business
According to data from CoinMarketCap, Huobi is currently the fourth largest crypto exchange by 24-hour trade volume, a position it’s hoping to improve upon in the coming months. In a bid to do so, Huobi has been culling its least productive staff and ramping up training in a bid to make the company work as efficiently as possible. After the Bitmain fallout, Huobi has been determined not to suffer the same fate, and it’s safe to say it’s doing a great job so far.
New Regulations Going Live ASAP
Just before the start of the new year, the Japanese Financial Services Agency (JFSA) teased amendments to the country’s crypto regulations. These regulations are still only in draft form, but the reforms are sweeping and will create a lot of work for crypto exchanges. Huobi has launched its exchange just in time before these changes go live, and this will give it a little longer to bring its platform in line with the new regulations.
Global Expansion Plans in Motion
Huobi isn’t happy with just operating in China and Japan, it wants to become a global player and a household name around the world. To this end, Huobi has been hard at work laying the foundations for a successful global takeover. It’s been creating partnerships in the ASEAN region and looking at integrating artificial intelligence into its systems. In order to make sure the plan goes off without a hitch, it has called upon Randi Zuckerberg – the sister of Facebook boss, Mark Zuckerberg. Zuckerberg has come onboard as an advisor to Huobi, with her efforts already being felt throughout the company.
Huobi Japan is just a stepping stone to covering every jurisdiction on earth with its crypto exchange services. It won’t be long before everyone around the planet can interact and use the powerful Huobi crypto exchange – something we won’t be unhappy to see. Ambitions this big have slayed some of the biggest crypto giants to date, but with great planning and a strong foundation, Huobi will be able to succeed where others have failed.