Huobi Cloud onboards 5 firms to launch their own cryptocurrency exchange

On July 20th, Huobi Pro – the world’s third-largest cryptocurrency exchange, announced their white label exchange solution “Huobi Cloud“. Huobi Cloud will enable companies to set up their own cryptocurrency exchange and OTC trading desk using Huobi’s existing exchange infrastructure.

According to Huobi’s blog:

“Huobi Cloud will rely on Huobi’s existing digital asset exchange platforms, providing partners with the services of setting up OTC exchanges and currency exchanges with little to no IT capability requirement. Partners can share the order integration system, wallet system, asset management and clearing system of the Huobi Global platform, while at the same time connecting Huobi Global’s depth, liquidity, and market data.”

Huobi has announced the list of 5 partners that will initially start using their cloud offering. The company has selected – Yatai International Holding Group, Vnesheconombank, Chi Fu Group, Asia International Finance Holdings and Dbank Group. Each firm plans to set up a new cryptocurrency exchange in the Philippines, Russia, Taiwan, Indonesia, and Canada, respectively.

From Exchange to Cloud

Huobi is one of the longest-running cryptocurrency exchange in the world. Founded in 2013 in Beijing, the company shifted it’s base of operation to Singapore in 2017, after the Chinese government crackdown in 2017.

Started as a Bitcoin exchange, Huobi currently supports 193 currencies. It also has diversified it’s service offering which includes: OTC Desk, Mining pool, Blockchain venture fund, News and now Whitelabel exchange solution to help firms set up their own exchange.

In May 2018 Huobi announced that Chris Lee, CEO of rival exchange OkEx, will be joining Huobi as the new Vice President of Global Development. Huobi has also opened a new office in the US, Canada, and London.

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