Huobi group launched its Huobi Cloud Business Unit envisioned to “promote the rapid and healthy development” of the blockchain space worldwide, According to an official blog post on July 20.
The newly launched service will be a one-stop solution provider for digital asset exchange. It will offer digital exchange solution, over-the-counter (OTC), ecological solution and operational solution. The OTC solution verifies the authenticity of the trading of fiat currencies like U.S. dollars, Euro, Chinese yuan and digital currencies like Bitcoin, Ethereum, and Tether (USDT).
The official blog post wrote:
“Huobi Cloud will rely on Huobi’s existing digital asset exchange platforms, providing partners with the services of setting up OTC exchanges and currency exchanges with little to no IT capability requirement. Partners can share the order integration system, wallet system, asset management and clearing system of the Huobi Global platform, while at the same time connecting Huobi Global’s depth, liquidity, and market data.”
The blog post published on July 20 also mentions that more than ten multinational firms, such as International Finance Corporation, have already become the initial partners of the cloud project. Additionally, Huobi group has also acknowledged interest from JIFU Investment (Holdings) Group among other notable corporations.
Huobi is currently the world’s third largest digital currency exchange by trade volume, with offices in Singapore, the U.S., Japan, South Korea, and Hong Kong. According to CoinMarketCap, Huobi has seen $562.88 million in trades over the past 24 hours to press time.
The blog further stated that the cloud platform also provisions exchange platform publishing, a risk-trigger mechanism, token-related services, and both hot and cold wallet separation.
In June, Huobi announced a new partnership that will see it launch an investment fund dedicated to blockchain startups in South Korea and China.