Huobi US Affiliate Exchange Launches Trading
HBUS, a “strategic partner” of Singapore-based cryptocurrency exchange Huobi, launched trading on its platform on Tuesday, July 10, Cointelegraph reports..
First announced in early June, HBUS is headquartered in San Francisco. Initially, the platform supported 22 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Tether (USDT). Fiat currencies are not currently listed on HBUS.
“Trading in pairs with the dollar requires complex licensing and cooperation with US financial regulators and organizations. At the current stage, we do not provide services for the exchange of fiat for cryptocurrencies and cannot give any predictions, “the exchange explains on its website..
US registration for HBUS began on 6 July. From that date, users could verify their accounts and make deposits while waiting for trading to start. HBUS has not yet completed registration procedures and is not available to residents of Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont and Washington..
The exchange draws attention to the fact that HBUS is precisely the “strategic partner of Huobi in the United States“, and not its division. “HBUS is not a subsidiary, subsidiary, division, or any other type of Huobi affiliate. HBUS also cannot be called Huobi US or anything similar, “the company explains..
Huobi previously opened a new trading floor in Australia backed by the Australian dollar. In the third quarter of this year, the exchange intends to begin testing OTC transactions for European clients through its London branch..
Huobi is currently the third largest cryptocurrency exchange according to CoinMarketCap, with a daily trading volume of $ 765 million..