Australian division of the exchange …

Huobi Australia to merge with parent company

8 months after launch, Huobi’s Australian division will merge with its parent company. The reason for this decision is the unfavorable market situation and the inexpediency of maintaining a separate division in the current situation..

Huobi Global opened a subsidiary in Australia in July 2018, announcing that it was a “natural step” to enter a new market. Huobi Australia has announced that the decision to join Huobi Global will take effect tomorrow..

“Please note that due to unfavorable market conditions and a surplus of staff, all Huobi Australia operations, including platform management, social media channels and customer support, will be relocated to Huobi Global headquarters on February 26,” the company said..

Australian division of the exchange ...

The Australian exchange will also abandon its plan to add support for fiat and will continue to serve trades exclusively in cryptocurrency pairs. In addition, it will withdraw the application for registration with the Australian Transaction Research Center, which is not required for companies that do not deal with fiat currencies..

Despite setbacks in some regions, Huobi Global recently reported 100% growth in its trading volumes in 2018 compared to 2017. According to the company, the number of its employees has grown from 400 to over 1,300 over the past year..

Australian division of the exchange ...

Similar articles

  • OKCoin exchange opened a division…

    OKCoin Exchange Opens US Division With Fiat Dollar Support OKCoin Cryptocurrency Exchange Opens US Division With…

  • Huobi Exchange Reports Doubling…

    Huobi Exchange Announces Doubled Trading Volumes In 2018 Singapore Cryptocurrency Exchange Huobi Recorded A Twofold Growth In Activity On Its…

  • BitBay is eliminating support…

    BitBay will eliminate support for Monero due to the private characteristics of cryptocurrency Cryptocurrency exchange BitBay on Monday announced the end…

  • Bitstamp has insured assets…

    Bitstamp has insured client assets against crime-related losses One of the oldest exchanges in the cryptocurrency market, Bitstamp, has announced a new…

  • Bitfinex moves to Switzerland…

    Bitfinex moves to Switzerland Cryptocurrency exchange Bitfinex, currently home to the Virgin Islands, intends to relocate its…