- Huobi has announced that it will expand into the Middle East, Africa and South Asia
- The new offices will make use of the ecosystem method used previously by the firm
- This comes after Huobi began supporting stablecoins on their wallet.
Huobi is looking to expand its operations and has a number of new locations in mind, including the Middle East, Africa and South Asia.
This new announcement was made at the World Blockchain Summit in Dubai where Huobi’s new Dubai office was also discussed.
One of the reasons for the new office is to help Huobi’s underbanked or unbanked customers.
“As Dubai is leading the blockchain effort in the region, it made sense for us to set up our regional head office here,” said Co-founder Mohit Davar.
The new office intends to recreate the ecosystem model which strives to help partner with other blockchain firms. This model was introduced earlier this year and focuses on three main aspects.
The first aspect is token-to-token trading which is one of the company’s core services. The second is community development which helps to help plant roots within the new environment and endear the firm to local residents. The third is the development of project incubation and an education center.
This is only one of the recent developments Huobi has made to expand to new territories.
This year has been one of very impressive growth as the firm has expanded into Brazil, Canada, and Japan. They now serve users in about 130 countries and their cumulative turnover has exceeded $1 trillion.
Huobi has also made the move to create a partnership with other tech companies, most notably artificial intelligence digital asset trading solutions company AI Traders. This was done through Huobi’s marketing arm, Huobi MENA.
Stablecoins have also been embraced by Huobi as their wallet now supports a number of them such as rue USD (TUSD), Dai (DAI), Paxos Standard Token (PAX), STASIS EURS (EURS), Gemini Dollar (GUSD) and USD Coin (USDC). They also launched their own stablecoin, Huobi USD.
“Huobi believes in giving users maximum flexibility and choice when it comes to handling their digital assets, so this upgrade was a natural move for us,” Huobi vice president Livio Weng.
With the number of new developments made at Huobi in 2018 and its expansion towards new regions could signal a very prosperous 2019 for the firm.