Australia gets another fiat on-ramp for crypto investors
Huobi Group, the company behind one of the biggest crypto exchanges in the world, continues its global expansion after today launching Huobi Australia. The head office for the Huobi Australia will be based in Melbourne.
— HuobiAustralia (@HuobiAu) July 5, 2018
The new exchange is bringing with it the swathe of features and technology available with Huobi’s exchange offerings, and gives Australians another safe location to trade digital assets. Aussies are now able to choose amongst several digital currency exchanges, such as CoinSpot, CoinTree, BTC Markets, Bit Trade, and Independent Reserve, which all offer AUD fiat on-ramps.
Founded in 2013, Huobi Global currently operates in over 130 countries, with head offices in several major cities. The Huobi Pro exchange is currently ranked #3 in the world by trading volume, with nearly $1 billion AUD traded in the past 24 hours.
Huobi Australia’s exchange is launching with four pairings to begin with, and all to AUD, which are Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The next pairings to come include IOST, POWR, CTCX and ELF.
Overall, this is great for both Australian investors, and for Australian projects. A common issue in the crypto space for many projects both in Australia and abroad, is liquidity. Listing tokens on exchanges is not an easy process, and can be both time consuming and expensive. Having another exchange based in Australia will hopefully help more Aussie projects get their tokens listed. With availability of fiat pairings and access to an exchange with excellent customer support, this is a win-win for everyone.
Huobi Australia will be lead by Adrian Harrison, a financial services professional with 17 years’ experience across hedge fund, asset and wealth management in Asia. Adrian says;
“Crypto-traders in Australia are increasingly knowledgeable and sophisticated, matched by a receptive regulator with interest in safely developing the market. For Huobi Group, the move to Australia is a natural fit for our technically robust platform.” said Mr. Harrison, CEO Huobi Australia. “We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”
As part of the expansion, Huobi Group has partnered with Blockchain Global, a multi-national enterprise focused on Blockchain start-ups. Melbourne’s local Blockchain Center, along with CoinStop, the Australian Digital Commerce Association and FinTech Australia are also partnered with Blockchain Global, so they have quite a presence here.
Huobi Global Chief Strategy Officer Charlie Cai said “Partnering with quality firms such as Blockchain Global, a leader in the local market, is intrinsic to Huobi Global’s future globalisation and localisation plans. We look forward to the continuation of this strong partnership.”
Sam Lee, CEO Blockchain Global said;
“Our strategic alliance with Huobi Australia represents our journey towards fostering mainstream adoption of cryptocurrencies and blockchain technology, in Australia and around the world. With our technical expertise in running cryptocurrency exchanges and solid relationships with regulators, industry bodies and investors, we look forward to bringing Huobi Australia to the masses.”
Another great outcome from the launch is the generation of up to 30 new jobs in Melbourne. The city is fast becoming the Australian hub for crypto, with many start-ups in the space being based there.
Beau is the Founder & Chief Editor at Cryptocurrency Australia Media, an educational platform designed to help anyone learn about cryptocurrency investment and blockchain technology. Beau is also the Founder & Principal Consultant of Blockchain Management Solutions, a specialist technical and project management consultancy, is an advisor with Masternode Ventures, a blockchain incubator, and is an advisor with THORChain, a new decentralized exchange protocol.