Huobi Global makes strides with its ever-expanding ecosystem and solidifies itself as one of blockchains most progressive companies.
Huobi keeps on improving their services are always leading the pack or among the leaders in various sectors of the blockchain sphere. This is as a result of a visionary team and support from its user base and community. The experience among the group also plays a crucial role as decisions made usually consider nearly all factors.
Livio Weng Talks Further Expansion
He is the current Vice President of Huobi Group. He has been involved in various projects and industries that make him suitable for Huobi.
Apart from his vast knowledge and the skills, he adds to Huobi, Livio Weng has worked in various corporate bodies, gaining administrative experience that will be crucial in the daily operations of Huobi.
More Than Just an Exchange
Huobi’s ecosystem is massive, and it only keeps on growing larger. Huobi MENA was recently released to take care of the Middle East and North African markets and possibly to spur the growth of the use of cryptocurrency in that region. The latest addition to the Huobi ecosystem is the HUSD, a stablecoin, which Huobi believes will help alleviate some of the challenges that cryptocurrency users have been experiencing while transacting with various stablecoins. Huobi takes into account the variables that exist within trading using cryptocurrency and tries to offer as many products and services that are directed towards making cryptocurrency trading more efficient.
Huobi stands out from all other exchanges as it offers the following:
A multi-chain cryptocurrency wallet known as the Huobi Wallet.
A mining pool, Huobi Mining Pool.
Huobi Capital and Huobi Global Ecosystem Fund which deal with venture capital and investments in blockchain projects around the world.
Huobi Labs in San Francisco which is an incubation hub for innovative blockchain ideas
These make Huobi an all-rounded outfit compared to other exchanges that only offer basic exchange services.
HUSD For A Complete Stablecoin Solution
Huobi Group noticed the struggle that traders were facing with the number of stablecoins available primarily for those who traded using multiple stablecoins. A significant amount of value is lost while exchanging stablecoins. Huobi Group wants to help traders retain this value through their latest product, the HUSD stablecoin.
Traders may have reasons why they would decide to swap one stablecoin for the other, one of them being the stability of the stablecoin itself. Huobi wants to make this option less expensive and more convenient for such traders such that traders have the possibility of always trading in the most stable stablecoin in the market.
When using HUSD, users load up their stablecoin accounts with any stablecoin supported by the Huobi Group. When this is done, it is reflected as HUSD in the Huobi platform. This, therefore, allows users to access stablecoins such as Paxos Standard Token (PAX), True USD (TUSD), Gemini Dollar (GUSD) and USD Coin (USDC) all which are government regulated. For example, a user can deposit GUSD and later on withdraw TUSD of the same value. All of these stablecoins have been grouped as HUSD which makes these transactions and exchanges possible within the Huobi platform.
In as much as HUSD will be offered, Huobi has no plans of abandoning USDT. HUSD will merely act as another option for traders thus increasing the convenience and usability of Huobi’s platform. Both USDT and HUSD will be crucial now and in the future of trading using cryptocurrency.
Upgrading Huobi Wallet
Huobi wallet has been helping traders with storage and transaction of their cryptocurrencies. It supports a host of all major cryptocurrencies. Huobi plans to introduce even more currencies to attract cryptocurrency traders and to provide even more convenience for traders while using Huobi.
EOS has come out to be the most critical Delegated Proof-of-Stake currencies, hence selecting it as the latest addition to Huobi Wallet was a no-brainer, according to Huobi’s vice president, Livio Weng. According to PRNewswire, Huobi plans to expand the number of cryptocurrencies it supports through its wallet. EOS is just the first of many that are likely to be included shortly. Huobi plans on forming partnerships with d’App developers to expand their reach and provide their users with a variety of options when it comes to trading and spending their cryptocurrencies.
Users trading in EOS will have broader access to markets through Huobi. Apart from enjoying the already established elements of Huobi, EOS users will also be among the first to experience new products and services that are usually common periodically due to Huobi’s expansion plan. EOS traders will also be pleased knowing that part of the transaction fees charged is used to support upcoming and promising blockchain projects through various arms of Huobi. Thus they are indirectly promoting the growth of the decentralized market.
Huobi Wallet is arguably the best option when it comes to transacting and storing cryptocurrencies due to its robust security systems and support for a majority of the significant cryptocurrencies in use around the world.
Bright Future Ahead
Huobi is an ever-growing, forward-thinking company that wants to revolutionize the blockchain and cryptocurrency sphere. Their innovative products and services keep Huobi fresh thus users always have something to look forward to periodically. In 2018 alone, Huobi has had partnerships and released products and services that have helped cement its place as a dominant figure in the global blockchain and cryptocurrency space.
Huobi has had a successful run so far, and they are likely to use their tried and proven formula going forward. Huobi is expected to continue working on products and services that will promote their growth in newer markets such as the MENA region which they recently ventured. Huobi is expected to focus on products and services that will be relevant to this region. More partnerships are likely to be encouraged, and investment in blockchain startups within the region as Huobi tries to show its relevance and importance in the blockchain space in this region. Huobi is also likely to use the MENA experience to guide future expansion plans into other areas such as the rest of Africa.
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