Huobi Group has announced the launch of a new platform, Huobi Cloud, that will allow users to build digital asset exchanges on top of Huobi’s existing platform.
According to a statement shared with Cointelegraph, more than ten multinational companies have already become partners with Huobi Cloud. The new product is aimed at establishing over-the-counter (OTC) and digital asset exchanges. Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform. Leon Li, Chairman of Huobi Group, commented on the launch:
In this era of significant and strong adoption of blockchain technologies, Huobi is looking to share its expertise and experience with the entire blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders.”
According to the statement, Huobi Cloud comprises of four approaches, including exchange, OTC, operational, and eco-system solutions. The exchange solution supports exchange platform publishing, token-related services, hot and cold wallet separation, a risk-trigger mechanism, and other services. The OTC solution verifies the authenticity of the trading of fiat currencies like U.S. dollars, Hong Kong dollars, Chinese yuan, and cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Founded in 2013, Huobi is currently the world’s third largest cryptocurrency exchange in terms of trade volume, with offices in Singapore, the U.S., Japan, South Korea, and Hong Kong. At the end of June, the company partnered with JD Cloud, a subsidiary of China’s largest online retailer JD Group, to explore blockchain technology applications and cloud computing, focusing on financial services, Internet of Things (IoT), and supply chain fields.
In June, Huobi also announced the launch of its new public blockchain, the Huboi Chain Project (HCP). According to Huobi Group, the new platform will be used for “value exchange, fundraising, securitization and more.” With the release of HCP, Huobi also aims to decentralize its own operations.