The new crypto trading platform Huobi Labuan is now starting a nine-month test phase.
Huobi Global, the Singapore-based crypto exchange of the Huobi Group, has had an unpleasant 2020 so far, which has recently become even more uncomfortable due to additional rumors about the trading platform.
On yesterday, November 27th, there was finally good news from Huobi, because a new crypto trading platform was launched under its name
The new crypto exchange called Huobi Labuan is independent of Huobi, but operates under their name and license. The new trading platform is specifically aimed at Malaysia, as a corresponding approval from the country’s supervisory authorities was already obtained in September 2020.
Initially, the platform is running a nine-month test phase during which cryptocurrencies and crypto derivatives can be traded for more than a dozen coins, including Bitcoin Compass, Ether ( ETH ), EOS and the company’s own Huobi token.
Huobi Labuan uses the infrastructure of Huobi Cloud, which means that the crypto exchange can rely on Huobi’s proven trading technology for its services
As reported, Labuan is one of several new licensed Huobi platforms and offshoots. The main platform now has branches in Thailand , Argentina , Turkey and, via the strategic partner HBUS, also in the USA.
Although in many countries an increasingly stringent regulation of crypto trade takes place, Huobi builds nevertheless its own services further out , and tried himself to projects in the fields of Decentralized Financial Services (DeFi) and decentralized Internet from.
At the time of going to press, Huobi Global is the second largest crypto exchange in the world in terms of daily trading volume on the spot market and in derivatives trading .