Huobi is set to launch a new digital currency marketplace in the US by partnering exclusively with HBUS. As reported by Finance Magnates on June 8, the Singapore-based exchange will seek to leverage its easy-to-use interface to compete with Coinbase and other leading US exchanges. In recent days, Huobi has made major moves, launching a blockchain-focused investment fund and commencing development of a blockchain platform. Huobi is the third-largest crypto exchange in the world, with a recent daily trading volume of $750 million, according to market indexing site CoinMarketCap.
A Strategic Partnership for Huobi
The partnership with HBUS will give Huobi an entry into an important US market which has been dominated by a few exchanges, key among them Coinbase. Coinbase has gained millions of users by offering an easy-to-use platform and has solidified its lead through strategic partnerships and acquisitions. Huobi will, however, have an edge, as it offers more crypto assets for trading compared to Coinbase, which only offers Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.