Huobi, cryptocurrency exchange, headquartered in Singapore, has finally chosen a CEO to run its US-based partner, ‘HUBUS’. The announcement regarding Frank Fu’s appointment was made on Monday. He previously worked as the Managing Director and an international investmor at Chinese technology company, Meitu Global.
Fu is already familiar with blockchain – he has founded a few mobile applications that utilize distributed ledger technology. He expressed his delight at joining a cryptocurrency company:
This is a compelling time in the cryptocurrency industry. I look forward to assembling a team dedicated to building a world class virtual currency and digital asset platform that offers the best customer experience, technology innovation, and regulatory compliance.
HUBUS’ official website lets users share their email addresses to get latest updates regarding its launch. Instead of calling itself a division of Huobi, HUBUS terms itself “exclusive US strategic partner of Huobi”. Registration for the platform will begin on July 6th, where users will be allowed to create accounts and deposit their funds. It will end on July 10th, after which users will be allowed to withdraw funds, trade and place orders. A Bitcoin giveaway is also created for users who deposit $1,000 worth of funds into their accounts. They will receive 0.1 BTC and 100 days of free trading.
Meanwhile, Huobi is reportedly setting up a new office in Brazil. The exchange also partnered with investment firm NewMargin Capital and securities company Kiwoom Securities to create an investment fund aimed at supporting startups in South East Asia. Recently, the exchange announced that it was planning to create its own blockchain with the help of the public. Huobi has even kept back 30 million tokens to support this new project. Founder and CEO, Leon Li Lin, said that they came up with the idea in order to make Huobi a “truly decentralised autonomous organisation”.