On July 10, 2018, Huobi crypto exchange shared a press statement with Cointelegraph stating that trading had commenced on HBUSM, its newly established U.S-based strategic partner.
In early June, Huobi announced that its strategic plan was to access new cryptocurrency markets through its partner company, HBUS, which is based in San Francisco.
Reportedly, HBUS supports 22 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tether (USDT), and others. Additionally, the new platform will offer traders with depths charts, candlesticks, and other summaries of market data for listed coins.
On July 6, 2018, Cointelegraph reported that HBUS has been verifying accounts for U.S residents making it possible for them to deposit their crypto holdings even before today’s launch.
However, until the company acquires permits by the regulators, residents of Washington, Vermont, Hawaii, North Carolina, New York, Louisiana, Georgia, Connecticut, and Alabama will not be able to trade on HBUS.
Huobi and its U.S. based venture claimed that trading had commenced on its newly launched platform in Australia. Additionally, the partnership recently revealed other London-based activities as a strategy for accessing the European market. The company expressed optimism that over the counter (OTC) trading tests would commence in this year’s third quarter.
The platform, which has its headquarters in Singapore, has also been expanding its operations across Asia. Besides its businesses in Japan and Hong Kong, Huobi intends to launch a subsidiary in South Korea by the end of this spring.