Huobi to Open an Office in Russia

Huobi has planned to open its first Russian office to run a Blockchain project acceleration center and also develop local mining hotels. What else do we know?

November 9, 2018 | AtoZ Markets – Huobi, one of the world’s largest cryptocurrency exchanges, has made plans to open its first office in Russia on Monday, November 12 at 10:00 a.m. Moscow time. 

This announcement was made by the General Director for global markets Huobi, Edward Chen and Andrei Grachev, the future head of the Russian division, during the Blockchain Life conference held in St Petersburg this week.

Huobi Opens Russian Language Website

Grachev noted that the company’s website will be in Russian-language, and it will also offer a Russian online support service, a call center, and account management. It will also operate a Blockchain project acceleration center aimed at supporting local startups, and also offer customers local mining hotels services.

In addition, the so-called mining hotels are now on the rise in the country they since provide quite inexpensive housing for small mining farms that has no location. Rental rates of these services depend on the mining device’s capacity.

Among other educational institutions, the program will be run in tandem with the prominent Russian universities, including the Plekhanov Russian University of Economics as well as Moscow State Institute of International Relations.

As per Grachev’s statements, Huobi’s prominent experts will give a series of lectures on civilized asset management and automated algorithmic trading.

Huobi Crypto Exchange Expands in 2018

Huobi was founded in China and is currently the third most prominent cryptocurrency exchange in the world. According to CoinMarketCap, the exchange is transacting $521.7 million in trading over the past 24 hours.

However, since Huobi was banned by its home government, the exchange has experienced expansion in 2018 as it has opened several offices in different Asian countries, including Hong Kong, Singapore, South Korea, Japan, and Australia. Most recently, an office was opened in Dubai.

Earlier, AtoZMarkets reported that Huobi has joined Russian’s VEB Innovation Fund in a bid to share notes on cryptocurrency regulation. As per the CEO of VEB Innovations, Huobi’s expertise will help in forming “a legal basis that could compete with current promising jurisdictions.” 

The VEB Innovation Fund is an initiative that was developed in Russia since September 19, 2011, with the sole purpose of investing in Russian high-tech startups. 

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