HBUS, the US Huobi cryptobirds division, has formed a development team that will work on products and services targeted at institutional clients. Reported by The Block.
The team will be led by Vice-President of HBUS Sales and Marketing, Caitlin Mew, who was formerly Vice-President of the investment company BlackRock. The developers will work on the creation of a token-based lending service, a platform for OTC trading and a steyblecoin.
“Institutional clients need advanced trading platforms and marketplaces that are trustworthy. Unfortunately, the current landscape is far behind the traditional financial services industry, ”said Mew. - More and more institutionalists will add digital assets to their portfolios. Therefore, they need reliable, safe and regulatory compliant partners. Such as Huobi.com »
The head of HBUS, Frank Fu, expressed the opinion that the fall in the market last year benefited the industry, because the strongest and most useful projects were able to survive:
“We are seeing a revival of the industry, in which traditional hedge fund managers, banks such as JPMorgan, and technology giants like IBM are taking part. Institutional investors understand that regulation is being finalized, and continue to pave the way for mass adoption. ”
Recall that the first round of the IEO project of the TOP Network lasted only 7 seconds. During this time, investors bought 300 million tokens. A little later, two more additional rounds of the initial exchange offer took place.
Soon, Huobi announced that 3,764 users had participated in the campaign, which acquired 1.5 billion TOP tokens in three rounds. The second round lasted 5 seconds, the third - 7.