Bitcoin, Cryptocurrency And Blockchain News

Huobi Group Plans to Open Office in Brazil


Team members of Huobi, the fourth largest cryptocurrency exchange headquartered in Singapore, have been avoiding press questions over their opening an office in São Paulo, as reported by a Brazilian newspaper Portal do Bitcoin on May 29th. The exchange finally confirmed the news to cryptocurrency news outlet Coindesk today.

According to Portal do Bitcoin, the exchange has also posted two jobs on LinkedIn; one for a Chief Compliance Officer and another for a Digital Marketing Manager. Coindesk wrote that while the Huobi representative said that they were interested in setting foot in Brazil, they didn’t confirm anything else.

This month has been interesting for Huobi – first cryptocurrency exchange OKEx’s ex-CEO Chris Lee joined Huobi as Vice President of global business development. Then, Huobi Pro launched a new market index which is capable of tracking “10 different digital assets traded against tether (USDT)”.

Lee explained that crypto exchanges are the “heart of the [blockchain] industry” and that many senior members had already left OKEx before him. “For my former employer, I have done all I could … The first generation of OKCoin’s international and management teams have left. How many of the second generation are still there? And how many CTOs have left in the last three to four years?” said Lee.

Launched in 2013, Huobi has earned third place in Coinmarketcap under “market with fees”. However, the exchange had a rough year in 2014 when it accidentally deposited 920 bitcoins and 8,100 litecoins into 27 accounts. The team was able to recover most of the coins from users and promised to upgrade the system.

Huobi Pro is currently located in Hong Kong, Singapore, Tokyo and Seoul. Its trading activities is available on iOS, Android, Windows and Mac platforms. It will support Exscudo (EON) token airdrop on “June 1st, 2018 (GMT+8) to users who hold more than 100EOS on the blockchain according to a 1:1 ratio.”

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