Huobi Group just announced that it will be releasing its new platform, Huobi Cloud, which will enable users to create crypto asset exchanges on top of Huobi’s current platform.
Over ten multinational companies have already entered into a partnership with Huobi Cloud, according to a statement made by the group. The new product will be oriented towards creating over-the-counter (OTC) and cryptocurrency exchanges.
Partners will be allowed to benefit from order integration and wallet systems, along with asset management and clearing system, services offered by the Huobi Global platform. Regarding the launch, the Chairman of Huobi Group, Leon Li had to say:
“In this era of significant and strong adoption of blockchain technologies, Huobi is looking to share its expertise and experience with the entire blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders.”
Form their statement it can be derived that Huobi Cloud is made up of four methodologies: the exchange, OTC, operational, and network solutions. The exchange solution enables publishing on the exchange platform, token-related services, hot and cold wallet mitigation, a risk-trigger procedure, among other services.
The OTC solution checks to see if the trading of fiat currencies such as U.S. dollars, Hong Kong dollars, Chinese yuan, and digital coins such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) is authentic.
Huobi was established in 2013m and since then it has become the world’s third-largest cryptocurrency exchange when it comes to trading volume, operating in Singapore, the U.S., Japan, South Korea, and Hong Kong.
Towards the end of June, the company struck a partnership with JD Cloud, a branch of JD Group– China’s largest online retailer- to look into blockchain technology use cases and cloud computing, that can be used in financial services, Internet of Things (IoT), and supply chain sectors.
In the same month, Huobi also made public that it will launch its new public blockchain, the Huboi Chain Project (HCP). The Huobi Group team stated that the new platform will have applications in “value exchange, fundraising, securitization and more.” With HCP’s launch, Huobi sets forth to decentralize its own operations.