Chinese cryptocurrency exchange Huobi announced a launch of a new platform in Australia.
The exchange originally based Singapore, has offices in Canada and Brazil . The trading in Australia will start with ten pairs exchanged for the Australian dollar. These pairs include bitcoin, ethereum, litecoin, and bitcoin cash. There will be more cryptocurrencies added in the future.
Huobi Australia CEO Adrian Harrison said he knew the interests of Australian “sophisticated” investors: “Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market.”
According to Finder Australia, the company will use its $200 million Global Ecosystem Fund and its consulting service to “partner with the growing numbers of Australian Blockchain projects” who are looking to expand in the Australian market.
Huobi has also entered the partnership with Blockchain Global. Blockchain Global CEO Sam Lee said that his company’s partnership with Huobi was a win-win for the country’s blockchain space.
He stated that the “strategic alliance with Huobi Australia represents our journey towards fostering the mainstream adoption of cryptocurrencies and blockchain technology, in Australia and around the world.”
Huobi has been expanding fast. Last week, it opened the European office in London with over-the-counter (OTC) trading set to begin later this year. Huobi European Exchange Director Lester Li had said at the time that the expansion was “in response to the high demand we have seen in Europe.”
According to CoinMarketCap, Huobi which is the world’s fourth-largest exchange, has a daily trade volume of $713 million.