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And this is very cool! I think that opening a local departments for Huobi Global is very great. They take a look at the law aspects one or another country and keep working legally. And keep getting more trust worldwide. So this is a good sicgn for all market.
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Crypto Exchange Giant Huobi Expands in Russia
Huobi Group, the largest blockchain company in terms of turnover, has officially launched its operations in Russia by opening an office in Moscow. Huobi Russia was formally unveiled at an invitation-only event last week with the support of Huobi Cloud, the company’s regional exchange partnership program.
Huobi Cloud is a collaboration with VEB Digital Transformation Center and Russian experts in the area of exchange trading and blockchain, the company said in a statement. Huobi Cloud and Huobi Russia have also teamed up with VEB Digital to run training programs, support blockchain research, and launch regulatory initiatives.
Andrei Grachev, CEO of Huobi Russia, said that despite the slump in the cryptocurrency market, Huobi operations in the country are growing, with daily trade volume exceeding $20 million.
He also noted:
“Huobi Russia will also be looking into providing blockchain and business development services for the local Russian users, such as education, project management, and negotiating deals."
According to VEB Innovation Fund chairman Vladimir Igorevich, the Russian government is actively promoting the blockchain market. VEB, a state-owned bank, aims to play a critical role as a trendsetter in domestic blockchain legislation and research, Igorevich said, going on to add:
"In the field of digital asset trading, Huobi is one of the world's largest digital asset trading platforms, with advanced technology and mature experience, security, and trading experience. VEB will continue to expand and cooperate with Huobi in the fields of development and education.”
Huobi’s move in Russia comes a few days after the digital assets group unveiled its ambitious expansion plans at a London conference, where it highlighted its ambition to attract institutional clients as early as 2019. The company also said a well-designed regulatory regime would be beneficial to an industry that is currently plagued by lack of confidence, rampant fraud, and inadequate customer protection.