Chinese Crypto Trading Platform Huobi Launches in Australia

Gold Bitcoin electronic computer processor board. Virtual cryptocurrency concept

An announcement by Huobi, Chinese crypto currency exchange, said it has started trading cryptocurrency in Australia from July 5.

The exchange initially started with ten pairs exchanged for Australian dollar, including bitcoin, ethereum, litercoin, ethereum classic and bitcoin cash. “In the future, Huobi Australia will open more trading pairs to all users”, according to its announcement.

“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market,” said Adrian Harrison, CEO of Huobi Australia. “For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”

Huobi reportedly will partner with the growing numbers of Australian blockchain projects via its US$200 million Global Ecosystem Fund and investment subsidiary Huobi Capital.

In cooperation with Blockchain Global, Huobi aims to develop and foster the adoption of cryptocurrencies for Australians. This partnership is a win-win for the country’s blockchain space, according to Blockchain Global CEO Sam Lee.

Huobi has been expanding rapidly across the globe. An office in London opened last week to serve European market with over-the-counter (OTC) trading set to begin later this year. The expansion was “in response to the high demand we have seen in Europe”, said Lester Li, Huobi European Exchange director.

At the time of publish, Huobi had a daily trade volume of US$ 893 million, according to Coinmarketcap.