(REJECTED) Huobi Global Opens Middle Eastern Market for White-Label Crypto Exchange Services
Cryptocurrency is a global technology that brings new opportunities and challenges for governments, organizations, and individuals around the world.
The United Arab Emirates (UAE) has become a leader for technology in the Middle East, with government and private partnerships and major initiatives boosting its lead. It is a highly capitalized investment market.
Specifically, the crypto ecosystem in the UAE is rapidly becoming a regional leader. Spearheaded by government initiatives, Dubai launched a pilot digital currency program to introduce consumers to virtual assets.
The cryptocurrency market within the UAE has grown from its humble level in 2014 to whatever it is today. Many citizens have access to the internet and are actively taking up Bitcoin and other cryptocurrency investments. Therefore, there is a potential interest in crypto projects in the region.
On 2nd November 2019, Blockchain.News identified that Huobi Global is expanding to the UAE by providing the white-label cryptocurrency exchange platform.
Now, let’s see Why Huobi Group has opened a new regional hub in the Middle East.
To Provide Tools for Crypto Exchange
The company announced on Thursday 31st October that Houbi Cloud, a platform, which helps firms to develop their own exchange, now is available to the Middle East market.
Crypto is the future, consumers want tools to exchange and use these cryptocurrencies. Houbi moved to the Middle East so that to build its exchange network. The company wants to allow cryptocoins communities, ICO communities, and people from the crypto industry to create their own trading platforms with a few clicks.
According to the company statement, online payment providers in the MENA (the Middle East and North Africa) region can now provide cryptocurrency trading to their existing customers, while leveraging Huobi’s main exchange’s liquidity and trading pairs.
Meeting Consumers’ Demands
Houbi MENA office co-founder – Mohit Davar – said that UAE has shown great interest to adopt and engage blockchain technology. He mentioned that today Huobi offers various digital asset services globally on a uniform platform for cryptocurrency enthusiasts to invest all under one well-established, convenient, and secure exchange.
The Company Operates Globally
In a separate company statement, Houbi Cloud has so far helped firms across the world to deploy more than 120 exchanges, including some Huobi branded exchanges like Houbi Argentina, Houbi Thailand, Houbi Indonesia, and Houbi Russia.
Meanwhile, Binance – the leading cryptocurrency exchange globally and Houbi’s long-standing rival – has its presence in the Middle East.
Based on its commitment to developing an exchange network around the globe, Houbi announced that it now supports fiat-to-cryptocurrency trading of Russian rubles. In September 2019, it also added support for Nigerian naira.
Takeaway
Actions speak louder than words.
Huobi has demonstrated its further commitment to exercise its expertise in data management and web development to develop its white-label cryptocurrency exchange platform across the globe.