Crypto exchange Huobi is to expand its business to the Middle East, Africa and South Asia, where it aims to provide trading services to the unbanked and underbanked.
“We are very excited to bring the Huobi blockchain and digital asset ecosystem to the Middle East, Africa, and South Asia,” says Houbi Middle East and North Africa (MENA) Co-Founder Mohit Davar. “As Dubai is leading the blockchain effort in the region, it made sense for us to set up our regional head office there.”
Education, trading and development
The Dubai office will be responsible for replicating Houbi’s ecosystem model in the MENA region, where it will offer over-the-counter (OTC) and token-to-token trading, as well as an incubator for blockchain projects, community development and an education centre.
Davar says Houbi is already operating an online trading platform in the MENA region and is establishing key partnerships with other firms in the area, starting with artificial intelligence traders who will offer AI-based crypto trading solutions.
Earlier this year, Houbi expanded its operations to Europe and Asia. The company was founded in China and currently has offices in Hong Kong, South Korea, Japan and the United States. In August of this year, Houbi became a publicly-listed Hong Kong firm. After its founding in 2013 by Leon Li, Huobi become one of the largest cryptocurrency exchanges in China.