Huobi to Launch Crypto Exchange Dedicated to EOS

Huobi Pool, Huobi Group’s cryptocurrency mining arm, will launch a EOS-dedicated cryptocurrency alternate in Q1 2019, the corporate said final week. The new alternate will permit customers to commerce EOS towards “a number of other cryptocurrencies.”

Cao Fei, CEO of Huobi Pool, stated launching an EOS alternate “is simply the next logical step in our support” as an EOS tremendous node.

Huobi Pool stated it has been working carefully with the EOS group for the reason that launch of the enterprise earlier this 12 months. Among different initiatives, it collaborated with different block producers to construct an EOS check chain, the Crypto Kylin Testnet, the place EOS-based initiatives could be examined. Huobi Pool additionally developed a voting platform for EOS holders and arrange an EOS group to make holders extra conscious of node elections.

EOS is the native cryptocurrency of the EOSIO blockhain protocol. EOSIO operates as a wise contract platform and decentralized working system meant for the deployment of industrial-scale decentralized functions by a decentralized autonomous company mannequin. The good contract platform claims to get rid of transaction charges and in addition conduct tens of millions of transactions per second., an organization registered within the Cayman Islands, is the developer of EOSIO. In June 2018, the corporate raised US$4 billion on this planet’s largest preliminary coin providing (ICO) to fund the event of the platform.

Singapore-headquartered Huobi operates the third largest cryptocurrency alternate, dealing with round half-a-million {dollars} price of trades every single day, according to knowledge from Coinmarketcap. It lately added EOS contracts on its derivatives platform Huobi Derivative Market.

The announcement of the EOS-dedicated cryptocurrency alternate comes at a time when Huobi is actively increasing its ecosystem. Last week, it introduced the discharge of the whitepaper for Huobi Chain, a public blockchain challenge targeted on safety, transparency and quick and excessive frequency transactions, the corporate claims.

Huobi has also been expanding into different geographical markets together with Russia, Indonesia, Taiwan, the Philippines and Canada.  

Earlier this month, the corporate was granted a full Distributed Ledger Technology (DLT) license by the Gibraltar Financial Services Commission (GFSC).

Lester Haoda Li, the pinnacle of Huobi’s world institutional enterprise primarily based within the firm’s London workplace, stated:

“Our Gibraltar DLT license will permit us to open a fully-regulated alternate for our world institutional shoppers and retail shoppers alike, so this can be a massive win for Huobi and a really optimistic step ahead for our world technique.

“Among different advantages, our DLT license will permit us to open doorways to extra institutional traders who had been beforehand unable or unwilling to become involved in an unregulated sphere.”

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