During a recent interview with blockchain news website Blokt, Huobi Group’s Vice President Livio Weng announced it will be further accelerating its expansion plans. Livio Weng even went so far as to state that Huobi will be sharing some very big news sometime this year.
Livio Weng
Huobi Group’s Vice President Livio Weng has recently filled the position of Huobi Group Vice President of operations. The position of VP requires Mr. Weng to focus on Huobi’s business development, branding, marketing and its public relations. Mr. Weng comes from a background in fintech, social networking and peer-to-peer lending. He finished his Master’s Degree in Software Engineering from Tsinghua University.
As the former Vice President of peer-to-peer lending startup Jiedaibao, Mr. Weng offers a solid base to be in charge of the previously mentioned departments.
Huobi’s ecosystem
Huobi is best known by the public as being a top-volume digital asset exchange, but it is so much more than that. Huobi Group, Huobi Global’s parent company, is the financial hub of digital assets. Huobi Group provides its users with reliable and secure digital asset trading and asset management services. They service millions of users worldwide and have surpassed 1.2 trillion dollars in accumulative turnover.
The entire Huobi ecosystem is comprised of different entities that focus on providing financial digital services. Projects that are included in the Huobi ecosystem are: Huobi Wallet, Huobi Chat, Huobi News, Huobi OTC, Huobi Research, Huobi Labs, Huobi Capital, Huobi Ecosystem Fund, Huobi Chain development, Huobi Mining Pool, Huobi University (in China), Huobi Legal Services, Huobi Talent, Huobi Cloud and the multitude of digital asset exchanges around the world. To make the list complete the current asset exchange offerings worldwide are: Huobi Global, Huobi NEXT, Huobi Korea, Huobi Japan, Huobi Australia and Huobi MENA.
As a digital asset service provider, Huobi’s main focus is on its customers. The company has laid out and funded a User Protection plan that will kick-in in times of emergency and it takes pride in its 24/7 customer service platform.
HUSD
Recently Huobi Global added HUSD to its exchange. HUSD is a stablecoin solution that is comprised of 4 different stablecoins that are listed on Huobi Global. PAX, GUSD, USCD and TUSD can all be converted in a 1:1 ratio with HUSD. For instance, when you deposit PAX into your Huobi account you will have 1 HUSD. You can then withdraw GUSD to a hardware wallet, by withdrawing 1 HUSD and convert it into 1 GUSD. By offering this stablecoin solution, Huobi offers its customers a wider choice in stablecoins; while at the same time protecting its users against stablecoin devaluation.
Huobi Wallet and the addition of EOS
Huobi’s VP Livio Weng announced that Huobi’s multi-chain light wallet will support EOS, as he quoted ‘EOS is among the most important delegated Proof-of-Stake (DPoS) currencies so it was a natural choice for us to include it’.
The addition of EOS was the first in line after which many other cryptocurrencies will be added at an accelerated pace. During the past year Huobi Wallet added support for Bitcoin, Ethereum, Bitcoin Cash, Litecoin and all ERC20 tokens, so the addition of EOS was in line with the wallet accepting major cryptocurrencies.
Huobi Wallet offers a safe, fast and efficient option for users to store their digital assets and at the same time retain access to their funds at all times. Users have full access to their wallet because they are the only ones holding the private keys to their wallet. Over the past months Huobi Wallet has seen a surge in new users, because it has been adding support for popular cryptocurrencies and tokens.
Concluding remarks
I have been impressed by the continued expansion of Huobi Group ever since the beginning of this year. After I noticed Huobi was starting to focus more on the Western market I signed up for an account, around March 2018. Since then Huobi has made great progress into expanding their brand and their financial services worldwide.
This past summer I attended a summit by Huobi in Amsterdam, where they talked a little bit about their expansion plans. At the summit Huobi announced their ultimate goal. They want every human being worldwide to have access to one of their digital asset exchanges. Ever since the Summit it seems they are accelerating their expanding with the opening of digital asset exchanges around the world. Just recently Huobi Global opened a new digital asset exchange to service unbanked/ underbanked citizens in the MENA region (Middle-East and Northern-Africa), called Huobi MENA. I am personally very excited about Huobi UK, which will be opening a fiat-to-crypto exchange later this year, if all goes according to plan.
Disclaimer: This article is not intended as investment advice. It is just my personal opinion about digital asset exchange Huobi Global and Huobi NEXT. You should always do your own research. Huobi Global rewards me for writing this article and supports me for ventilating my own personal opinion.
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LindaCrypto
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