Blockchain 

FomoHunt Becomes First Merchant to Accept Huobi Tokens as Payment

Cryptocurrency exchange Huobi’s native Huobi Token (HT) is now available for making real-world online purchases of a wide range of products from the e-commerce platform FomoHunt. Per a press release shared with Cointelegraph on Aug. 22, users of HT can now purchase clothes, art, hardware and other products from the e-commerce and cryptocurrency industry news platform FomoHunt. James Lawrence, co-founder of FomoHunt, commented on the development: “Being able to work directly with Huobi is an amazing opportunity. We are working together to allow our community users to use Huobi Token…

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Blockchain 

Huobi Wallet to Support MakerDAO Tokens, Decentralized Applications

Major cryptocurrency exchange Huobi has added support for MakerDAO tokens and decentralized apps (DApps) in its wallet.  Huobi Group shared the announcement with Cointelegraph on Aug. 19. MakerDAO has a stablecoin called Dai, a token named MKR, and applications including CPD Portal. The Maker project is a combination of its stablecoin, collateral loans and community governance. MakerDAO is a type of decentralized autonomous organization (DAO), which is an organization that is managed solely by smart contracts and code, not human managers. A DAO is also operated by users via a…

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Blockchain 

Huobi to Launch Regulated Thailand-Based Crypto Exchange in Q3 2019

Huobi’s Thailand-based subsidiary has sealed the country’s fifth official license to operate a fully-regulated digital asset exchange. An official July 24 announcement from Huobi Group —the operator of Singapore-based flagship exchange Huobi Global — revealed that Huobi Thailand is expected to launch in Q3 2019, offering both regulated crypto-crypto trading and fiat on-ramps.  Global expansion Huobi Thailand will use Huobi Group’s Huobi Cloud platform — a product launched in the summer of last year to facilitate the construction of digital asset exchanges on the basis of Huobi’s existing platform.  The…

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Blockchain 

Huobi Transitions From Current HUSD System to New ERC-20 Token

Huobi cryptocurrency exchange will transition its HUSD token from its current stablecoin system to an ERC-20 token through a partnership with crypto startups Stable Universal Limited and Paxos Trust Company. Per a press release published on July 17, Stable Universal will develop a new ERC-20 HUSD Token, which will be pegged to the United States dollar and held in reserve by the New York State Department of Financial Services-regulated custodian Paxos. Huobi will be the first platform to list HUSD Token. In the coming days, Huobi will change over from…

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Ethereum 

Huobi Unveils ‘Finance Chain’ For Building Enterprise Blockchains

Huobi Group is jointly developing a new public blockchain for decentralized financial (DeFi) services, according to a press release on July 1. Major global digital asset financial service provider Huobi has partnered with Chinese blockchain startup Nervos enabling companies to deploy their own blockchains, tokenized assets, as well as DeFi services, according to the announcement. The joint initiative, provisionally called “Huobi Finance Chain,” is targeting enterprises, financial institutions, as well as exchanges, and is set to operate as a regulatory-compliant financial blockchain network. Specifically, Huobi is planning to enable regulators…

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Bitcoin 

Huobi Expands to Turkey Where 20% of the Population Hold Crypto

Huobi exchange will expand its operations to Turkey, planning to have a crypto-to-fiat onramp for Turkish users by the end of 2019, according to a press release on June 26. The Singapore-based crypto exchange will be “moving aggressively” to the Turkish market over the next 12 months, since the country has a “very important and promising prospective market,” Huobi Global CEO, Livio Weng, said in a Huobi-sponsored meeting in Istanbul. According to the press release, Huobi’s new expansion plans include not only a fiat on-ramp for Turkish lira (TRY), but…

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Bitcoin 

Huobi Launches OTC Desk for Institutional Investors

Major global crypto exchange Huobi has launched a regulated over-the-counter (OTC) trading desk for institutional investors, according to a blog post on May 15. The new OTC crypto trading platform, Huobi OTC Desk, is fully regulated by the Gibraltar Financial Services Commission (FSC), and enables major fiat-to-crypto and crypto-to-crypto trading pairs. Unlike the existing Huobi’s OTC retail products, the new OTC trading desk enables a principal OTC trading process under Huobi Technology, Huobi’s regulated OTC trading entity in Gibraltar, while the existing OTC offering on otc.hbg.com enables peer-to-peer (P2P) tradings under…

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Bitcoin 

Japanese Regulator Conducts Flash Inspection of Huobi Japan, Fisco Exchanges

Japan’s financial regulator has reportedly investigated two domestic cryptocurrency exchanges to check consumer protection and legal compliance, Cointelegraph Japan reported on April 23. According to anonymous source originally speaking to Reuters, the investigation by the Financial Services Agency (FSA) on April 17 involved trading platforms Fisco and Huobi Japan, the local off-shoot of Chinese exchange Huobi. Fisco Digital Asset Group (FDAG) has been working with Tech Bureau Inc., the operator of the previously hacked Zaif exchange, to officially transfer the business to the former group. Both the Fisco and Huobi…

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Cryptocurrency 

Crypto News | Huobi Adds XRP and IBM Releases X-Force Red

Crypto news has been fairly slow this week, minus a few major announcements. Huobi Global just announced support for XRP. Another piece of news that should excite investors is IBM releasing its new X-Force Red. Huobi Adds XRP to OTC Trading Desk #Huobi OTC #announcement is now here!$XRP @Ripple will launch on #Huobi #OTC at 10:00 6 March.Details here: https://t.co/BsBc3KEN37 @bgarlinghouse #Ripple pic.twitter.com/cpCZjG0Cmv — HuobiGlobal (@HuobiGlobal) March 5, 2019 Yesterday, Huobi released word that XRP would launch on its OTC platform today, making this the biggest piece of crypto news…

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Blockchain 

Crypto Exchange Huobi Adds Support for Ethereum-Based Tether

Huobi Global crypto exchange has launched support for the Ethereum (ETH) blockchain-based version of USD-pegged stablecoin, Tether (USDT), according to a press release published on Feb. 27. Starting today, Huobi will offer deposit and withdrawal services for major stablecoin Tether in both its original Bitcoin (BTC)-based Omni Layer Protocol and its more recently launched ERC-20 token form, which is built on the Ethereum blockchain. Launched in 2014, Tether aims to allow users to trade and transact traditional fiat currencies on the blockchain. Tether has two tokens, USDT and EURT, purportedly…

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